Mortgage Interest - Mortgagefit

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Mortgage Interest

jenkin7

Posted on: 12th Nov, 2007 02:05 pm

I had my mom refi my home under her name due to my credit scores. She has since quick claimed the house back to me, I have property under my name BUT the loan is still in her name. Can I use mortgage interest on my tax return?

Total Reply : 2

Hello,

If your mom has the loan in her name then you do not get the tax benefits.

If you had the mortgage in your name and had been making the monthly payments then you could have got that.

jenkin7

Posted on: 12th Nov, 2007 08:45 pm

hi,

as you have said that the loan is still on your mother's name, you cannot get the tax benefits. so, if your credit score is now good enough and you want to get the tax benefits, you should refinance and make the loan on your name.

thanks,
larry

larry2

Posted on: 12th Nov, 2007 09:18 pm

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