mortgage debt forgiveness tax relief act

It's my second home qualify for mortgage debt forgiveness relief law in 2007?

I had to buy a second home to my sister, my name, because not qualify for a mortgage at the time. My sister is considering action in the place and the place where his house is under my name. I understand that the cancellation of mortgage debt relief law only applies to primary homes (I'm also excluding primary home). There will be tax consequences that I am paying for my second home? or can I explain to the IRS that the house was technically not mine. The title is under our names, but only the mortgage is under my name.

I do not think second homes are eligible under the Emergency forgiveness of mortgage debt. Not under this provision. Only the canceled debt, acquire, build or improve your principal residence or refinance debt incurred for those purposes qualifies for this exclusion.