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Quit Claim Deed in the State of Florida to obtain a Loan

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Ervin Guest	Posted: Mon May 10, 2010 7:49 am    Post subject: Quit Claim Deed in the State of Florida to obtain a Loan Like 0 Dislike 0 hi, our Mom is considering doing a quit claim deed to sign over land/home to myself and my sister. She is 75 y/o and we are considering trying to get a line of credit or home equity loan against the property so that we can purchase a new mobile home so that we can all live in it on the property and take care of our Mom. Do you know if the equity is immediate for us or is there a 1 year waiting period? thank you so much.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon May 10, 2010 10:46 pm    Post subject: Like 0 Dislike 0 Hi Ervin! Welcome to forums! I do not think there is such a waiting period to get a home equity loan in Florida. If there is equity in the property, then you would be able to get a mortgage. Feel free to ask if you've further queries. Sussane

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