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My name is on Deed, but not on Loan, am I responsible for past loans against my house?

My Name is On Deed, But not Loan, am I responsible for past loans against my house?...My husband recently put my name on the Deed to our House. I was never on the loan papers. If he made a loan using our home as collateral prior to our marriage would I be responsible for payment of that note?

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

in a word, "no." however, in the event your husband neglected to make payments on any notes that constitute liens on the home, you'd be forced to make a decision at that time (hopefully jointly with your husband).

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smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi dlf!

Welcome to forums!

Your name is only on the property deed and not on the mortgage. In that case, you will not be liable for paying the mortgage dues. You have full ownership to the property and have similar rights which your husband has but you will never be responsible for the mortgage payments. In case if the property forecloses, your credit will not be affected in any way.

Feel free to ask if you have further queries.

Sussane

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

actually, dlf, if there were ever a legal action taken against the property (such as foreclosure, etc.), your name is going to be on it as an owner of the property. a foreclosure is a public record; public records are noted on credit reports. therefore, should one ever take place, it would end up on your credit report.

you'll never have to worry as long as payments continue to get paid on the mortgage.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my boyfriend and i bought a home together, his name is on the loan and both of our names are on the deed, we have since split, leaving the property in limbo, i want to keep the home, move back in, currently no one resides in the house, and take over payments, can he have me legally removed?

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

nicole, you are an owner of this property, according to what you wrote. therefore, you have full rights of possession - to live there. i would think that you'd want to at least maintain a business-like relationship with the ex-boyfriend, since he is also an owner.

hopefully, of course, you can afford to make payments on your mortgage on this home without difficulty; and at some point, you may be able to have him deed back to you his interest in the property (perhaps for a fee).

there are a few things we don't know about your purchase and the mortgage you may have, so i can't give you an all-inclusive answer. nevertheless, you have every right to occupy the property, but you need to keep in touch with him no matter what, until such time as you sell the home or change the ownership to yourself only.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my son will not make any more payments on his home He owes more than it is worth He want to let the bank have the home. also he is moving to virginia the house is in michigan ? I want to know what is my responsibly of the house payments

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi john,

If you are not on the mortgage note, then you will not be obliged to pay the debts neither will your credit be affected if the property goes into foreclosure. However, if your name is on the mortgage deed, then the lender will have all the right to ask you pay the mortgage debts. If you do not pay, then the lender may foreclose the property and your credit will be badly ruined.

Thanks

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

will i get the tax credit write off if my ame is only on the deed.

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jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi saxbie,

As your name is only on the deed and not on the mortgage documents, I don't think you will get any kind of tax credit write off.

Thanks,

Jerry

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

hi.. I need help my exboyfriend and I bought a house 2gether. Im on the deed to the house but im not on the morge. Im getting letters from attorneys saying im Pro Se myself. I wrote a letter 2 both attorney and courts telling them i havent lived in the house 4 a couple of years and want nothing to do with the proprty. Why am i being asked 2 appear in court now. What are my rights. I live in another state no job raising my kids on the goverment...( trust me im not happy i want a job but cant find 1). So help me plz.. Ive tryed calling governt aid legal services and was told by them since i do not live in ohio they couldnt help me i need 2 pay 4 an attorney.. I left my old house after my exboyfriend family threaten 2 hurt my daughter and havent looked back since.

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adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest,

As your name is not on the mortgage, you are not liable to pay it off. The lenders cannot sue you for the mortgage payments. If the lender forecloses the property, then your credit will not be affected. I can understand, it would be difficult for you to consult an attorney but it would be best if you could consult one. He could represent you and sort out the issue.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I bought a house, fell on hard times and my father paid off the mortgage. The deed is still in my name, I don't have to declare that I "sold" the home on my taxes correct?

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savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

Did you sell the house the title to which was in your name? Well, if you have, then i believe you have to report that on your taxes. Any profit made from the sale would be taxable.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My Little brother name is on the deed of our house, but not on the Loan Mortage. My name is on the loan, since he has bad credit. I gave him a portion of the monthly payment, and he is the one who write the check to pay the monthly bill. Question is, can my brother legaly claim HALF the annual tax deduction? We do it this way to help him graduatly build his credit back up. Thank you very much for your answer in advance.
Tony S.

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savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

As you're the one on the mortgage, you can claim the deductions on your annual tax return. But since your brother is not on the mortgage he isn't responsible for the repayment of the loan. So, though he's been making the mortgage payments he'll not be able to claim the tax deductions.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Anybody?

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

tony, you can do what you want to do as far as filing a tax return. is it appropriate to "do what you want to do"? no, not necessarily. but people do strange things with their tax returns all the time (not file at all, take deductions that aren't truy allowed, etc.).

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thanks a for the response. The thing is I want my brother to be able to claim his portion of the tax claim. I am just not sure if the IRS will give him problem. Or if he is violate any law by claiming the tax. He is actually the one who pay the mortgage, and have the Cancel check to prove that. It's just that his credit is bad, and can't get the loan himself. That's why I put my name in the help him out. Thanks a lot for your response.

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jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Tony,

I think your brother will not be able to claim the tax deductions because he is not legally responsible for the loan. If he had signed on the mortgage note, he would have been responsible for the loan and could have claimed the tax deductions. But as George said, people do strange things with their tax returns. Your brother may be able claim the tax deductions. The best thing is to discuss this with a tax consultant.

Thanks,

Jerry

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thanks a lot for your advice Jerry. I really appreciate that.

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robert.smith2005's picture
robert.smith2005 | Joined: May 22, 2009 07:49 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

person who is paying off loan, can claim tax benefit.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My boyfreind and I have a child together and bought a house the mortgae is only in his name my name is on the title also.He made me move out,i have receipts of paying my share of monthly payments is there anyway to get him to pay me something then take my name off title or what if he never sells it do i have anyrecourse

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savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

[quote:c9e278863f]the mortgae is only in his name my name is on the title also.[/quote:c9e278863f]

If your name is on the title you co-own the property. You are legally entitled to a share of the house. Your boyfriend cannot make you move out of the house. You can definitely claim a certain amount of money from him before you sign over your interests in the property. You can contact a lawyer. He will be able to guide you further regarding this.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

well..."your boyfriend cannot make you move out of the house"...kind of makes me wonder about all these relationships that falter and one of the partners "makes" the other move out. how does that work? you mean if my wife messes around on me i can't make her leave? that's not fair!

believe me, savior, i know what you're referring to; i'm just playing.

the advice of getting a lawyer involved is good advice, dee. i hope you follow it.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i owned my home..got married and my father lived here. He obtained a mortgage in only his name..the deed is only in my name..We have about 30 days until forelosure is final. Do i have any rights, the home has alot of equity..Also, if my nephew catches up payments i agreed 2 quit claim the deed 2 him..ANYTHING n lieu of being single mom and homeless

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i won't say anything about the name, db.

how in the world did your father get a mortgage on a home he doesn't own? in the real world that's called an invalid mortgage. a property cannot be mortgaged without the consent of all owners. you need to fight this somehow.

and if you quit claim to your nephew, that won't sit very well with the lender, but that's a whole other issue.

you need to retain counsel to figure out this mortgage situation.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i signed house over 2 dad just so he could get the mortgage then he signed it back over 2 me before he married..my nephew no longe gonna help out so i guess i just lose the house?? i cant take action against my dad for not paying?? (not heartless..he is leaving me homeless and i was just originally helpin him out)
willme quit claiming deed another stall the foreclosure?
i woud at least like time 2 sell and get something from th equity instead of nothing..
and heres a good one..if i am deceased will that mess it up?
i wll prob do 1 or the other..give up on life or become rebellious and trash the house if there is no hope n sight

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My question involves a foreclosure in the State of: Maryland

My boyfriend at the time purchased a condo and included me on the title. We had broken up and he has since defaulted on the loan. I am not on the loan but only the title.

Recently I received Foreclosure papers on the property addressed with both of our names. There is also a lien place against the property in both of our names by the condo association.

I am very concerned. Am I held responsible for the condo fees? Will the foreclosure also be on my credit report if I am not on the mortgage. How will this affect me?

I also understand from his sales agent that he is has been approved for a short sale and received a sales contract but the bank is reviewing the file. How come a Foreclosure is still taking place?

Please help!

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My name is not on the mortage loan, but my name is on the deed. Unable to get any benefit for mortage loan. Now, unable to pay monthly mortage on income property. What can I do.

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jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi db,

Your father quitclaimed the house to you, while the mortgage was still in his name, right? In that case, the transfer does not seem to be valid, unless he informed the lender. The only way to protect the house from a possible foreclosure is through [url=http://www.mortgagefit.com/refinance.html]refinance[/url]. Your quitclaiming the property to someone else will not stall the foreclosure procedure. If you refinance the house in your name and start paying off the mortgage, you can save it from foreclosure.

Hi allisonp,

Since you are only on the title, and not on the loan, you are not responsible for the mortgage payments. Though your name will appear on the foreclosure paper, your credit will not be affected by the foreclosure. If your boyfriend has been approved for a short sale, the lender would not have started the foreclosure. I think the short sale offer has been rejected, which is why the house is in foreclosure now.

Hi Elio,

If the mortgage loan is not in your name, you are not liable to pay for it. In case you cannot afford the mortgage payments, you can request for a loan modification. But as your name is not on the loan, the lender may not work with you to modify the loan. Is it possible for you to refinance the loan into lower interest rate? This way, you can reduce the monthly payments and take over the responsibility of the loan.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My Boyfriend and I bought a home in Virginia a year ago both names are on the deed but only my name is on the mortgage since his credit was not the best. He has walked out and I am trying to manage the morgtgage payment on my own. Do I have any recourse?

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jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi BBG,

Since your name is on the mortgage, you are legally responsible to repay the loan. If you are finding it difficult to stay current on the loan, you can request your lender to do a loan modification. If you qualify for the modification, the lender will reduce the monthly payment by either reducing the interest rate or extending the term of the loan. Talk to the [url=http://www.mortgagefit.com/loss-mitigation.html]loss mitigation[/url] dept. of your mortgage company and check out if you qualify for a modification.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my mom lives with me in my home. i am on the deed but not on the mortgage loan? if the home goes into foreclosure, am i responsible to make pmts ?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my mom lives with me in my home. i am on the deed but not on the mortgage loan? if the home goes into foreclosure, am i responsible to make pmts ?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband bought the house while we were engaged. He secured financing in his name only but we added my name to the title. He passed away recently and the house has been vested to me, but I would rather walk away from it as he died in the residence. Can the loan company sue me for forclosure? Can I just release my name from the deed?

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

you can certainly walk away, but you, as an owner, will be named in any foreclosure suit that is brought by the lender. no, you are not obligated to make payments according to the loan note, but in order for the lender to take possession of the property you must be a defendant in the foreclosure action.

if there's a way in which you could be released from the deed, i don't know about it. inasmuch as you are now the sole owner of the property, "releasing" you would mean that, for all intents and purposes, there is no owner.

i suggest you contact the lender and discuss this with them. perhaps you can work this out in an amicable fashion that will eliminate the need for them to take legal steps to enforce their loan note. that would, we'd hope, work out best for all involved.

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simonhovell's picture
simonhovell | Joined: September 3, 2009 07:48 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

you did not tell about equity that you may be having in the house. if you walk away, you will lost everything.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i don't believe that's an issue here, simon...please reread b thompson's original post above - she's in distress and clearly doesn't care about living in the home, regardless of the equity situation.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

How do I find out if I'm on the deed? I am not on the loan.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

denise, i'm surprised you don't know if you own a home. you can easily check with the town clerk, city clerk, county clerk (whatever is applicable) to ascertain how the property is titled. tax assessor's records would also reflect all owners - in fact, that might be the best place to start.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My mother and I purchased a home together with my name and her name on the loan. We have refinanced several times with the last time resulting in her name only being on the loan. My name is still on the deed. I want to move... is there any liability on my part???

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

as an owner of the home, you have some responsibilities, yes. however, if you are no longer a borrower, you have no legal mortgage responsibility. what you do is between the two of you, of course. if you're moving away and plan on doing things on your own, such as buying a new home, that's undoubtedly not going to stand in your way.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My ex boyfriend of 16 yrs. left me for another relationship and said he is not coming back home. We own a home together and I am on the title of house but not on the loan that was recently done when he left the relationship and he kept the money from the closing of the house. So the house is on collateral with the bank. He wants to kick me out and I know that he can't do that. So my question to you is if he left the property on his own free will is that like abandonment of the property? Can he also claim his half if he left and made a change of address? I have changed the locks on the doors because he has all his things he owns. what should I do? In need of desperate help.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

abandonment? no - you and he severed your relationship; what is he to do other than move out? i don't understand your reference to his keeping money from the closing. did you two refinance? as for claiming "his half" that would depend on how much equity you have in the home, as he'd be reasonably expected to claim half of that equity or more, inasmuch as he is/was the payor of the loan.

you two will need to sit down and discuss this rationally to come to a resolution. it may make sense for him to transfer title to you, but that may mean a return to him of equity.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My boyfriend and I have purchased a home, we have been living together for 15 years. His name is not on the home or deed. We are in the process of spliting up. Do he have any rights to the property?

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

it would seem not based on his lack of ownership. however, what seems to be the case often isn't when someone goes to court to prove a point.

in this situation, i think i'd be displeased to see someone cutting me off after 15 years (i know you didn't say it was by your/his choice, etc.) without compensation after 15 years of contributing to the household together. that would hurt.

in this country, suing others is an everyday activity, so i suppose if he felt he was wrongly taken care of, he could begin a suit and seek damages.

did the two of you ever have an oral agreement about the ownership?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

What is the disadvantages of adding a husband's name with a bad credit on a title ? Is it advisable? He is not on the loan.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

he can't do you any harm in terms of your existing mortgage, but if his bad credit is still out there, you run the risk of a creditor placing a lien on the property to ensure payment.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my name is on the deed but my brother purchased the house, i live in the home and pay all of the mortgage, property tax, insurance, and homeowner dues, could i claim the taxes since he does not claim them?

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jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Rachell,

Your name is on the title and you have ownership rights to the property. You have also been paying the mortgage, taxes, insurance, etc. So, you can definitely claim the taxes. There should not be any problem for you in doing so.

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