Posted on: 21st Feb, 2011 08:47 am
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.
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.
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.
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.
Get the house back in A's name - you should never have a mortgage in your name on a home that is not.
