Legal Question in Tax Law in California
Legal right to write off interest paid into a house after a divorce
I was wondering if I have the legal right to write off the interest paid into a house my wife got through our divorce. It has been 3 years and she still hasn't taken me off the deed. My credit is suffering greatly from it as she has been 60 days late on the mortgage a few times.I suspect her credit won't allow her to refinance. I am still the primary name on the deed. Is there anything I can legally do about this. Any information is greatly appreciated.
1 Answer from Attorneys
Re: Legal right to write off interest paid into a house after a divorce
You cannot deduct interest that you haven't paid. Here are two ideas for you to consider:
The first thing you might do is contact a family law attorney and see if you can ocmpel her to refinance the loan in her name only. That way, you can at least get the loan off your credit and/or shown as paid in full.
Second, you should be a copy of your credit report and dispute any bad marks related to this loan. Federal law allows you to dispute or explain any delinquent items on your credit report and this might improve your credit score to some degree.
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