Financing in Lebanon>Question Details

Crazybird, Home Owner in Lebanon, OR

My husband passed away. My name is on deed, I pay mortgage, can I claim interest on taxes?

Asked by Crazybird, Lebanon, OR Mon Jan 23, 2012

My husband died. I inherited home and my name is on the deed but it was not on the mortgage. I have been and will continue to make mortgage payments, can I claim the mortgage interest on my taxes even though his social security number is on the 1098?

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For accurate information consult with your tax professional and or attorney....
0 votes Thank Flag Link Mon Jan 23, 2012
I dont know why not but you need to make sure your tax person is aware that is going on. You may want to call the lender -or write them and let them know to put your SS# on the reports from now on also. They can do that.
0 votes Thank Flag Link Mon Jan 23, 2012
Crazybird,
Officially the mortgage is due in full. speak to the servicer on the mortgage to have your name added. Don't be surprised if they say no-you may have to refinance (if you are over 62 think of a reverse mortgage). This is why I always put both names on the mortgage.
You would need to speak to a CPA not a tax preparer to answer this question since you are not legally obligated to pay the mortgage.
0 votes Thank Flag Link Mon Jan 23, 2012
Best to ask your tax person, but my thought would be yes you can since you are paying it. I would speak to the mortgage co and make sure they are aware the person on the mortgage has died and that you want on the loan otherwise they could force the due on sale clause and force you to pay it off in total.
0 votes Thank Flag Link Mon Jan 23, 2012
You would have to show proof you paid it. It is actually a question for whoever prepares your taxes. There is a spot for interest paid where you did not receive a 1098. You may want to contact your bank and have them add you to the mortgage.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Mon Jan 23, 2012
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