Positively moving forward

[awest1217]

I agree with you kml. I know he will be off the title, but I don't think he is completely off the loan. It is kind of like a co-signor at that point. At least that is the way I understand it. The guy I talked to from our mortgage company said if I defaulted the paperwork would make it so they couldn't go after him for the money (not that I would) so I still don't understand the problem. It sounds like once the decree is done and I get the paperwork H will be free of the mortgage. It will still come up on his credit report until I refinance, but since I pay for it, it helps him, not hurts him and actually I have been helping him for two years now so he can deal with a while longer.

I also talked to my tax person and she said to fight for the tax credit. I think just like she does. He does not have a right to it (all of the resources I read online say this as well), but I can choose to give it to him. The tax credit goes to the custodial parent and the custodial parent can choose to give it away. Also in the IN state rules on the exemption in a divorce state that the parent who has a greater financial need should get the exemption. I definitely have the greater financial need and even then when S gets to school age I won't be able to deduct any educational expenses on years H exempts, and H can't claim that because he isn't paying it so that money just goes to the government. Doesn't seem right. So based on her advise I will fight for the exemption and if it comes to it, I will say I will refinance in 5 years and put any tax refund towards the house so I can do that quicker. (if I get to keep the tax exempt, if not then it will ahve to be at least 10 years).