Posted on: 04th Feb, 2008 07:41 am
We are a married couple and buying our first home I am planning to sign the mortgage loan under my name only and not have my wife as a cosigner for these reasons..
to stay with in our budget regarding the loan..
to protect her credit in the unfortunate event of foreclosure..
to allow possibel financing for an investment property in the future..
my question is this..
1. will her name be on the title
2. if we file our taxes jointly, can we still deduct our mortgage taxes etc??
thank you
to stay with in our budget regarding the loan..
to protect her credit in the unfortunate event of foreclosure..
to allow possibel financing for an investment property in the future..
my question is this..
1. will her name be on the title
2. if we file our taxes jointly, can we still deduct our mortgage taxes etc??
thank you
1) it depends on what state you are in, some states you must have her on the title.
2) Yes
2) Yes
Hi Michael,
Welcome to the forum.
Do you stay in a community property stay? If so then your wife's name will be 50 percent owner of the property. That means her name will also be on the title.
Best of luck.
Larry
Welcome to the forum.
Do you stay in a community property stay? If so then your wife's name will be 50 percent owner of the property. That means her name will also be on the title.
Best of luck.
Larry
If your wife is not on the loan, she cannot get tax deduction on mortgage interest.