1st and 2nd mortgage.. ex girlfriend and quit claim

cogardesigns · Joined: 30 Mar 2008 Posts: 1 1.39 Dollars($)

My ex-girlfriend lived with me and I had her on the first and 2nd mortgage. I have had her sign a quit claim deed on the first mortgage. The first and 2nd Morgage are through 2 different banks.
Bank 1: first mortgage: home and property
Bank 2: 2nd mortgage: home equity loan for pole barn on same property as home.

What I need to know since the 2nd mortgage was for a pole barn on the same property as my home, do I need to have her sign a 2nd quit claim or will the one cover both? Can I just submit a copy of the first quit cliam to the 2nd bank so they remove her?

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

hi cogardesigns,

Welcome to the forum.

Quitclaim deed only transfers the property but it does not transfer mortgage. So as Your ex girlfriend signed the quitclaim deed, your are now the owner of the property but have you informed the lender about the quitclaim and refinanced the mortgage on your name only? If not then do it ASAP.

BTW have you notarized and recorded the deed in the county recorder's office?

Best of luck,
Larry

Niicss · Posted: Mon Apr 07, 2008 2:39 am Post subject:

Welcome cogardesigns,

Larry has rightly informed you that quitclaim deed only transfer the property but it doesn't release from the mortgage. So you should refinance the mortgage if your ex quitclaimed you the property. Consult with your lender on this matter.

Let me know if you have any more questions.

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