I am currently helping my parents pay their mortgage, but my name is only on the deed not the mortgage. Am I eligible for tax deductions?

Asked Fri Aug 20, 2010 by Williforrest…      

 

Vinny Tran & Nancy Do answered:

Dear Williforester

The alternative way to get your mortgage tax deduction is ... Current interest rates are so LOW your parent should REFINANCE the property (This time remember to ask them to add your name on the mortgage).

Go to this site for Today Mortgage Rate => http://www.bankrate.com/finance/mortgages/current-interest-r…

If you need further help then contact us.

Good Luck
Vinny Tran / Nancy Do
Mr."Little Saigon" & Associates
CA Broker ID # 01153694 http://www.VinnyTran.com
714-531-2678 - Fri Jul 20, 2012