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liability of wife not on loan but on deed

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scared44 Guest	Posted: Wed Jul 07, 2010 3:15 pm    Post subject: liability of wife not on loan but on deed Like 0 Dislike 0 Husband & wife on deed but wife is not on loan in Flordia. Is she still responsible for mortgage if husband decides to walk from property? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Wed Jul 07, 2010 9:10 pm    Post subject: Like 0 Dislike 0 Hi scared, As the wife's name is not mentioned on the mortgage, she is not responsible for paying it off. However, if she wants to save the property, then she can refinance the loan in her name and pay off the dues. If the husband walks away and the mortgage payments are not paid on time, then the lender will simply foreclose the property. _________________ Procrastination is the enemy of your financial success
scared44 Guest	Posted: Sat Jul 10, 2010 12:25 pm    Post subject: quit claim deed Like 0 Dislike 0 If I get a quit claim deed to remove my name from property is my credit still affected and do I lose the option to return to the property to get my belongings?
sara Moderator Joined: 05 Jul 2006 Posts: 2699 Location: New Brunswick, New Jersey 497.27 Dollars($)	Posted: Mon Jul 12, 2010 5:06 am    Post subject: Like 0 Dislike 0 Hi scared, If you sign the quit claim deed, you won't remain the owner of the property. Thus, you won't be able to stay in that property any longer. You should remove your personal belongings before signing the deed. Your credit won't be affected due to signing of the quit claim deed. Take care.

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