Posted on: 21st Mar, 2012 07:57 pm
My brother is helping us buy a home since our credit is not up to the mark due to a recent foreclosure on an investment property. So.., the plan is we will take care of downpayment etc and loan will be on his name. We can get deed on any one's name. Once my credit is good enough, I will get the loan transferred onto my name and my brother will be out of the obligation.
In this case, is there anyway for us to reap the tax benifits on Mortgage interest and property taxes. We can write an agreement (or) execute a lease 2 purchase or any thing that is possible.
Please advice. Thanks!!
In this case, is there anyway for us to reap the tax benifits on Mortgage interest and property taxes. We can write an agreement (or) execute a lease 2 purchase or any thing that is possible.
Please advice. Thanks!!
Hi XXX!
Welcome to forums!
The person whose name is on the mortgage and the property deed, may be able to claim the tax benefits. I will suggest you to contact a tax adviser and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The person whose name is on the mortgage and the property deed, may be able to claim the tax benefits. I will suggest you to contact a tax adviser and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Thanks Sussane
You're welcome!! It is good to note that the forum was able to help you with some suggestions!! :)