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Hello first of all I am so glad I found this website it has alot of helpful information thank you. My situation is just like Lucy's in AZ and I also live in Az, my husband worked in the construction field and here in Az construction work is very hard to find now and if you find a job in construction the pay is very low not like before, he was paid $23.50/hr and is now working for $10/hr minus taxes, social security ect. but in ower situation the bank is working on a loan modification so for now we are paying $867 which is great since before we were paying $2000/month, but this is not a for sure thing the bank said they might not be able to keep it this way for long, so far we have been making the payments of $867/ month on time as the bank requested, but now we are afraid that the bank in a few month will tell us that they will not be able to help us anymore and he might have to let the house go, so we have been thinking of removing my name of the deed to the house my husband owes (I'm not on the loan) and removing his name off of the paid off home we have but I'm not sure if that is ok to do since right now the bank is working on modifying the loan. No judgments have been made on my husband so far, is it ok for us to do what we have been thinking of doing in removing the names and if so since I was never on the loan and if in the furture the bank trys to go after my husband for any money will they try to collect from me since we are married? Thank you

smithsussane · Posted: Thu Apr 08, 2010 11:21 pm Post subject:

Hi pearljam!

Welcome to forums!

As the mortgage is in your husband's name, I don't think it will matter much if you remove your name from the property deed. You can sign a quit claim deed and transfer the property to your husband. Thus, he would be liable for the property as well as the mortgage.

As far as the other property is concerned, your husband will be able to remove his name from the property deed by signing a quit claim deed in your favor. As the creditors have not started off with any legal actions against your husband, I don't think transfer of the property will go against him.

Feel free to ask if you've further queries.

Sussane

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Adonis answered to Lucy in Az I have situation close to hers

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