Has anyone had a problem writing off mtg. interest on their taxes on a subject to? Since the end of year statement will still have the original owners name and SSN.
Whoever is paying it is entitled to get the writeoff. You do get the priority even if they claim it. Let them know that you are deducting it, and they will get audited if they do. (they might not but good scare tactic.)
You need to file an addendum to the title in the courthouse showing that you have equitable title to the property. This way your name shows in the land records and even if the end year statement comes in his name, he should forward it to you for deduction. If you are audited, you have copies of cancelled checks and your name on the title. The mortgage company won't call the note because the original borrwer is still on title. You should also notify the mortagee that all correspondence should come to your address as you are now managing the mortgage payments for the owner.
Whoever is paying it is entitled to get the writeoff. You do get the priority even if they claim it. Let them know that you are deducting it, and they will get audited if they do. (they might not but good scare tactic.)
You need to file an addendum to the title in the courthouse showing that you have equitable title to the property. This way your name shows in the land records and even if the end year statement comes in his name, he should forward it to you for deduction. If you are audited, you have copies of cancelled checks and your name on the title. The mortgage company won't call the note because the original borrwer is still on title. You should also notify the mortagee that all correspondence should come to your address as you are now managing the mortgage payments for the owner.