No. To be eligible to deduct a mortgage, it must be a secured debt.
You can deduct home mortgage interest only if your mortgage is a secured debt. A secured debt is one in which you sign an instrument (such as a mortgage, deed of trust, or land contract) that:
- Makes your ownership in a "qualified home" security for payment of the debt,
- Provides, in case of default, that your home can be used to satisfy the debt, and
- Is recorded or is otherwise perfected under any state or local law that applies.
Mortgage Interest
