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Father is giving me a loan on my 2nd mortgage, how do I set this up without any attorney/bank fees? |
We want to make it official, where he will claim the interest on his taxes, and I will claim the interest paid as deductions on my taxes. How do I do this with him without having to pay the costs of attorneys/bankers/title lawyers? Is there a free easy way of doing this? Yes, you just need to fill out a note secured by the deed of trust. What state are you living in. Go to a local title company and or the website of a title company and you should be able to the appropriate forms. One filled out, have them notarized and filed with the county records. I live in CA so I don't know what your title companies are where you live, but try www.octitle.com (Orange Coast Title) or www.firstam.com (1st American Title). Source(s): Licensed Realtor - CA Yes...he can record a Grand Deed as a 2nd mortgage on the Title of house. that will protect both of you guys at the same time. All you have to do is go down to your local County Clarke office and fill out the paperwork their and turn it in. Who ever make s the payments on it...can claim it on their taxes, but you must use a check for records. |
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