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Linda
Guest
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 Posted: Wed Aug 13, 2008 1:43 pm Post subject: remove a joint tenant from a mortgage |
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| two people are not married and have gone separate ways, can a quit claim deed be used to remove one party from the mortgage? |
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 jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Thu Aug 14, 2008 12:13 am Post subject: |
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Hi Linda,
Welcome to the forums.
A quitclaim deed cannot be used for your purpose. You'll have to refinance in order to remove the joint tenant from the loan. Please refer to the topic - Can quitclaim transfer mortgage debt for further details.
Thanks |
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DJ123
Guest
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| Posted: Thu Aug 14, 2008 7:51 pm Post subject: joint tenant/ death of one party /loan mortgage |
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| My wife has died and our loan was in her name and I was joint tnenant on the deed but not on the loan. Does the mortgage company have to let me continue to pay the loan or do I have to sell or refinance? |
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jenkin7
Joined: 04 Jun 2007
Posts: 3430
Location: Hawaii
514.35 Dollars($)
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| Posted: Fri Aug 15, 2008 4:57 am Post subject: |
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Hello DJ.
Welcome to the forums.
You should better refinance the loan. Is the mortgage company asking you refinance? If you don't make the payments then the mortgage company can sell the property to get their money back. You should consult with the mortgage company and refinance the loan and you may get even lower rates and better terms.
Ask the community if you have any further questions. |
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