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mortgage interest statement

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rosebpa Joined: 21 Feb 2011 Posts: 1 1.31 Dollars($)	Posted: Mon Feb 21, 2011 9:47 am    Post subject: mortgage interest statement Like 0 Dislike 0 If a property was quick claim deeded over by (A)(unknowingly) to another person named (B) mortgage is still in (A) name so the interest statement is in (A) name can (A) claim the interest on their taxes even though their name is not on the deed.
jveenstra Community Expert Joined: 10 Nov 2008 Posts: 1310 Location: River Edge, New Jersey 274.62 Dollars($)	Posted: Mon Feb 21, 2011 1:24 pm    Post subject: Interest Like 0 Dislike 0 Who actually made the mortgage payments? Only the person on the mortgage is responsible for paying the mortgage and only the person responsible for paying the mortgage is allowed to deduct the interest. If the quit claim was done without the knowledge of the lender, the lender may require the entire loan be paid in full if they find out that was done. _________________ John Veenstra, Sr Mortgage Consultant Approved Funding Corp Licensed NJ NY CT PA 201-833-0123x278
Rose Guest	Posted: Wed Feb 23, 2011 9:42 am    Post subject: Mortgage Interest Like 0 Dislike 0 I made the payments so I claimed the interest. But per the Irs because the deed was not in my name (Only the mortgage)as it was quick claimed over to someone else, I cannot claim the interest. Even though the interest statement was sent to them by the bank in my name.
brian1 Community Expert Joined: 14 Jun 2008 Posts: 448 Location: Northern California 15.61 Dollars($)	Posted: Wed Feb 23, 2011 2:36 pm    Post subject: Like 0 Dislike 0 Get the house back in A's name - you should never have a mortgage in your name on a home that is not. _________________ Licensed Broker 50 states http://www.aimwithfocus.com Live Chat available Need quick advise email or PM Glad to help Pre-approvals www.applyonlinesecure.com

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