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Guest

what happens to the property and mortgage when one party dies and is the coborrower ?

jerry · Posted: Thu Oct 02, 2008 2:43 am Post subject:

Hi Matty!

If the co-borrower dies, then the other borrower will be responsible for the property as well as the mortgage.

Thanks,

Jerry

Guest

A condo is mortgaged in only my mother-in-laws name. Both my name and her name are on the title. She will be to filing for bankruptcy. Would this effect me or my credit in any way? Is there a way to remove my name form title? Please help! What is the best solution??

jerry · Posted: Fri Oct 10, 2008 4:12 am Post subject:

Hi Jess!

As your name is not on the mortgage, your credit will not be affected. You can sign a quitclaim deed and transfer the property in your mother-in-law's name.

Thanks,

Jerry

Guest

Is this an option to Short Sales or Forclosure?

adonis · Posted: Tue Jan 13, 2009 11:24 pm Post subject:

Hey DanD,

A quitclaim deed helps in transferring property from one person to another. So if you are planning to give away your property to the lender for a short sale or a deed in lieu foreclosure, you can use a quitclaim deed to transfer the property in the lender's name.

Posted: Fri Apr 10, 2009 1:06 pm Post subject:

just beacuse he's off the deed dont mean he's off the loan till you refinance

Guest

Hello,

My uncle, grandmother and cousin name is on a house but my cousin wants out of both the mortage and the deed. Can i use a quit claim deed in this case?

adonis · Posted: Mon Nov 16, 2009 11:08 pm Post subject:

Hi Nikki,

Your query has been answered in the given page:
http://www.mortgagefit.com/propertytransfer/about30791.html

Take a look at it. I hope it'll help you.

Guest

My fiance and I bought a home together. If we split up and I keep the home will a quick claim deed work for our situation?

smithsussane · Posted: Fri Feb 26, 2010 10:15 pm Post subject:

Hi shelly!

Welcome to forums!

You will have to ask your fiance to sign a quit claim deed in your favor and transfer the property to you. Once he does so, you would become the owner of the property. However, if the mortgage is in both names, then you would have to refinance it in your name in order to release your fiance from the liability of paying the dues.

Feel free to ask if you've further queries.

Sussane

Guest

If my divorce decree states that my ex has to sign a quit claim, but she refuses, is there any way to get her off the house without it or do I have to take her back for contempt. Its been 2 years since the divorce was final and my lawyer doesnt want to deal with this.

jameshogg · Posted: Tue Apr 27, 2010 10:58 pm Post subject:

Hi hardcorepunk,

You have the court orders which states that your ex should quit claim the property to you. Thus, she is legally bound to do so. If she does not do so, then that would be considered as illegal. I would suggest you to contact an attorney and take his suggestions in this regard. He will able to let you know what steps you need to take in order to remove your ex from the property deed.

Thanks

Guest

I am having difficulty refinancing my mortgage due to my debt to income ratio. A friend has offered to co-sign which will allow the refi to happen. Will he have rights to the property, or is he just liable for the mortgage?

smithsussane · Posted: Mon Nov 01, 2010 11:11 pm Post subject:

Hi cassandra!

Welcome to forums!

If your friend cosigns for the loan, then you will have to add him or her to the property. Once the person is added to the property, he or she will become the owner of the property.

Feel free to ask if you've further queries.

Sussane

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Is quick claim a way to remove co-borrower from title?