Posted on: 07th Jan, 2010 07:03 pm
Hey you I have a real good one for you, Me & an Ex girlfriend bought A house back in 2001, I still live in the house, we were never Married, she been gone for about 3 years moved out of state we dont talk etc & she filed for Bankruptsy about about A yea ago, Of course it was granted so she not responsible for the loan anymore just me, since I was told she had signed the loan first that my 1098 form, which has both of are names on it but only shows her ssn cannot be changed, i dont see why my number cannot not be added as im paying for the home, im a borrower, & altough she is still on the loan, she is no longer pays or having anything else to do with it.... What can i do ? to get my ssn on the 1098, my crdit is now hosed as i have fell behind on a few things picking up the entire payment on my own, I dont know where she is to even try to talk to her to sign an assumption & get her off the loan completely, what other option do I have , if at all any? :evil:
hi dmann,
if you and your ex-girlfriend both bought the house together and you are a co-borrower on the loan, you can deduct the mortgage interest you paid on your taxes. in order to deduct the mortgage interest, you need to be someone who is liable to make the mortgage payments. if you co-borrowed the loan, you are certainly responsible to make the mortgage payments and you can report this as your expense in the 1098 form.
however, as far as i know, if you co-signed on the loan with your ex as the primary borrower, you will not be able to claim the deduction until you refinance in your own name. but now that your ex has been discharged from bankruptcy and you are making the loan payments alone, you should be able to deduct the mortgage interest. i think you can consult an accountant or you can call irs to check if you can claim the deductions. you can also discuss this with your lender and see what they can take her off the loan.
if you and your ex-girlfriend both bought the house together and you are a co-borrower on the loan, you can deduct the mortgage interest you paid on your taxes. in order to deduct the mortgage interest, you need to be someone who is liable to make the mortgage payments. if you co-borrowed the loan, you are certainly responsible to make the mortgage payments and you can report this as your expense in the 1098 form.
however, as far as i know, if you co-signed on the loan with your ex as the primary borrower, you will not be able to claim the deduction until you refinance in your own name. but now that your ex has been discharged from bankruptcy and you are making the loan payments alone, you should be able to deduct the mortgage interest. i think you can consult an accountant or you can call irs to check if you can claim the deductions. you can also discuss this with your lender and see what they can take her off the loan.
Thanks for some info, I have tried working my way up the latter with Citimortgage as I can tell fom other post on this site, they are not anyone favorite mrtgage company to deal with, & over the last 9 years I have the same feeling, even trying to get a workable solution going thru to then is like twisting someone arms off, I did however end up calling the IRS yesterday and talked to ( 3 ) different people, and took some kinda of question form over the phone to see if I would be able to claim anything, and to my surprise they told me I could, I need a lot of copys of stuff, but it could be done with a 1040 sch A! Now I nedd to figure out how to get her off the loan.... With out trying to refiance any option & suggestion, as I know I'm going to have to locate her at some time or another, just dont know how willing she will be to talk or sign anything.... Are there anything I can file in court that can make this happen?????
Hi Dmann,
I don't think you can file anything in the court to force her to get off the loan. I think the only option you have to take her name off the loan is a refinance. The lender will not want to remove your ex's name from the mortgage because she is the primary borrower. Unless you can show you have enough income to afford the payments and refinance the mortgage, no lender will remove a main borrower from the loan. Is it not possible to refinance the loan? Is there not enough equity in the property? How good are your credit scores?
Thanks,
Jerry
I don't think you can file anything in the court to force her to get off the loan. I think the only option you have to take her name off the loan is a refinance. The lender will not want to remove your ex's name from the mortgage because she is the primary borrower. Unless you can show you have enough income to afford the payments and refinance the mortgage, no lender will remove a main borrower from the loan. Is it not possible to refinance the loan? Is there not enough equity in the property? How good are your credit scores?
Thanks,
Jerry