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My mother and I are joint owners in a house in Florida. I am on the deed and the mortgage but not the note. She wants to remove my name from the deed. If I sign the quick claim deed to have my name removed. My name will still be on the mortgage. If something were to happen to her or if she defaulted, would I be responsible for the note? If I remain on the deed and she defaults or something happens to her, am I responsible for the note?

loansuperstore · Joined: 15 Jul 2010 Posts: 16 3.89 Dollars($)

Hi everyone. I am new to the boards and I look forward to meeting everyone and helping give advice and information!

Hi Sammy,
To answer your question, Yes. If you want to take your name entirely
off of the mortgage (and therefore not be responsible for the payments
or hit with the payment should you apply for a loan on another property)
you must get approval from your lender. Talk to
your lender and see what you can do. Every lender is different and it
will depend on whether your mother qualifies without your income. But
talk to the lender and have your mother's income and asset documentation
handy so that you can answer those questions.

gmakerley · Posted: Fri Jul 16, 2010 10:01 am Post subject:

LSS...what's your actual name? Is it "Loan" or "Super" or "Store" or "LoanSuper" or just plain old "LoanSuperStore"?

I'm just curious.

loansuperstore · Joined: 15 Jul 2010 Posts: 16 3.89 Dollars($)

The name is Adam. Nice to meet you George.

gmakerley · Posted: Fri Jul 16, 2010 2:17 pm Post subject:

Backatcha Adam

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