Mortgage Interest Deductions
by First Time Home Buyer from Indiana, USA
Who gets the mortgage interest deductions? We just bought our first house and our parents are our private mortgage financing. We put down a 20% down payment and they loaned us the rest, around $97,000.
Is there a way to register the mortgage with the government to properly pay taxes on the mortgage and/or mortgage interest?
Kate Answers: Mortgage Interest Deductions
Dear First Time Home Buyer, Thank you for contacting Get-Your-Best-Mortgage-Rate.com regarding mortgage interest deductions. This question is frequently asked so I know many Readers will benefit from your letter.
Go to Private Mortgage Financing
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How to Buy a House Questions and Answers II.
How to Buy a House Questions and Answers I.