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Subject:  Mortgage interest deduction Date:  4/10/2013  6:21 AM
Author:  wrjohnston91283 Number:  118351 of 129792

Hello All:
My wife and I area borrowing money from my parents. We've had an attorney draw up a loan documented, which includes the following clause:

As security to ensure prompt payment of this Note, Maker shall grant a second priority security interest encumbering the real property known as [address name].

Does this make the interest deductible? There will be no documents filed with the registry of deeds / land court, so does it not meet this requirement:"•Is recorded or is otherwise perfected under any state or local law that applies."

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