When my sister bought a house, she alone does not have enough credit to take out a loan, so I put myself down as a co-applicant. Now I'm planning to buy my own house, I was told I can get a mortgage, but I am not sure what implication does it have if I have two residential mortgages, if any?How does having two residential mortgages affect tax, etc?
If your sister is paying the mortgage that she has, then it has no effect on you at all tax-wise.How does having two residential mortgages affect tax, etc?
none - you get to claim your primary residence... anything else is IMMATERIAL...
especially if you're just a CO-SIGNER.
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