Biggie @ Arbor Mortgage
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The only way is to refinance the home to get your name off of the loan. If you can't agree to this & he stops making the mortgage payments, your credit will be ruined!
Good luck |
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Ooh, Ooh pick me
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I agree that it should have been part of the settlement. Also, I agree that you need to refinance in order to get the mortgage (and interest) under only your name.
You didn't make it clear if you are paying the mortgage yourself or some other arrangement.
I had a similar situation, this is how I handled it. I calculated how much of the mortgage I paid for the year and how much my ex paid. I used that ratio to determine how much of the initerest I could take on my tax return.
If your ex paid any portion of the mortgage, he is entitled to claim that same portion on his taxes, unless some other arrangement was made as part of the divorce settlement.
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Jon H
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give him the house and live with your mom |
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Cherishalatina
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So who ended up with the house in the divorce? if he did then the only way is to refinance the house...so why are you asking how you can get the mortgage interest if you were thinking of doing a quitclaim deed and loose any and all interest? Ok say you are say you were married to the owner of the property, signing and recording a quitclaim deed in favor of the spouse would transfer any interest the grantor may have in the property to the ex-spouse. |
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chatsplas
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Your question isn't clear--the house is sold, so what do you want?
WASN'T this settled in the divorce? That's usually a part of the property settlement and why you pay your attorneys and go to court. If he's required to Quitclaim the home to you and hasn't, see your divorce attorney for action on that, particularly since you're not speaking to your ex. As to taking a tax deduction for payment of mortgage interest, you get a 1099 statement at end of year. Usually sent to property address, and whoever paid gets to claim it, unless divorce decree said otherwise.That means it can be split between you or taken by one or the other. |
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golferwhoworks
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that should have been spelled out in the settlement agreement. Go back to your atty and get this clarified. Or sell the home or refinance it in your name |
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luludoodie
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Sorry to say this but you MUST speak to each other. If you don't the solicitors will take over and act as intermediary! Eventually you will reach agreement (via the lawyers) and then get a big bill for them doing what you could do yourself!
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glenn
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The only person that can deduct the interest is the person that pays the interest. This should have been settled in the divorce. You need to sell this house or refinance this loan and get him off the deed. Until you do this you and he will be dealing with each other year after year. |
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Lex
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Your divorce has already been settled and this rather large property in interest wasn't? I would suggest you reopen your decree and have the matter settled. |
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rob g
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Only one of you can claim the mortgage interest, and you'll have to agree on that. make sure it's in your divorce decree.
Only way to get one off the mortgage is to refinance them off. |
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Bob B
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your lawyer should have put it in your divorce decree. They only way you can get your name off the mortgage is to refinance..A good attorney would have put a" 90 days to refinance" clause in your decree for whoever gets the house. |
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Slassy Girl
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A quitclaim deed won't change your mortgage. The only way to get your name off the mortgage is for him to refinance the house in his name only. |
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Sharon T
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You should each claim the portion you actually paid on your 2008 return. Assuming the 1098 will be issued to him, he claims his share on the 1098 line on Sch. A. You claim your share on the line below that. |
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