Recently married and each owns a home...

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Recently married and each owns a home...

jameshogg

Posted on: 02nd Sep, 2010 11:29 am

hello,
I just got recenly married and my husband and I we both owned home before the marriage. My mom is the co-borrower on my home loan, and lives in the house. How does this affect how we report tax credits? How should I file? Can I take my name out of the loan, and have my mom only?

Total Reply : 1

hi lore,

your mother can refinance the mortgage in her name in order to release you from the liability for paying the mortgage balance. as far as taxes are concerned, you should contact a tax adviser and he would guide you further in this regard.

thanks

jameshogg

Posted on: 03rd Sep, 2010 12:26 am

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