My mother in law helped my husband get a mortgage on our house The mortgage is in her name but we pay the payment to her and she pays the bank with our money. Taxes, interest and insurance are included in our payment. She has never lived on our house even 1 day. She says we are not entitled to claim our mortgage deductions on our tax return. Is this correct?
Asked on 3/08/14, 3:17 pm
1 Answer from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
It is her loan, not yours, and she is the one on the hook for the loan and interest. Ask your CPA about your specific tax issues.
Answered on 3/08/14, 3:27 pm
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