---

quit claim deeds

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Guest	Posted: Mon Mar 30, 2009 8:35 pm    Post subject: quit claim deeds Like 0 Dislike 0 Why are mortage companies requiring spouses who are not on loans to sign quit claim deeds? I currently live in California and have a friend who was required to do this at the time her husband signed documents.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Mar 31, 2009 12:16 am    Post subject: Like 0 Dislike 0 Your query has been answered in the given link: http://www.mortgagefit.com/discuss/about1740-2.html#85838 Please take a look. I hope it'll help you.
cameo Guest	Posted: Tue Mar 31, 2009 7:44 am    Post subject: quit claim response Like 0 Dislike 0 Is the mortgage company asking your spouse to sign a quitclaim deed or an interspousal deed? The mortgage companies may ask your spouse to sign an interspousal deed so that he/she does not have any claim on the property. If you default on the mortgage, they can foreclose the property and recover the dues. They will not have to satisfy the claims of your spouse regarding the property., Thank you for your response, It was definately a quit claim deed, if signing either of these deeds does not release a party from debt on a mortgage and if only one spouse in on the loan, how then can the other spouse prevent a mortgage co. from forclosing if payments are not received? It is my understanding that a judge cannot award a house to one party or the other as long as a mortagage is owed and that just forces a sell of property or a refinance thereby allowing any equity to be split between spouses. Is there a law in place allowing loan institutions to require a spouse who is not on the loan to sign an interspousal deed or quit claim deed in order for the loan to be processed? Thank you for help.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Tue Mar 31, 2009 11:02 pm    Post subject: Like 0 Dislike 0 Hi cameo! Welcome to forums! As far as I know, this is not a law which makes it mandatory for the spouse to sign a quitclaim deed or an interspousal deed. However, there are some lenders who want the spouse to sign a quitclaim deed or an interspousal deed if he or she is not on the mortgage. This will help the lenders to safeguard their interest. Sussane

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0