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Guest

If you quit claim your property to someone and still owe a balance on the mortgage, if the mortgagor is not notified, are you violating any laws? I assume that a mortage company will not refinance the mortgage if the quit claim has been filed, correct? Thanks

Guest

As the mortgage documents are in the name of the borrower and lender has given the loan keeping the property as collateral, any change in ownership would result in violation of the contract.

Guest

Hi Kathy,

colin · Posted: Thu Apr 05, 2007 12:52 pm Post subject:

Hi Kathy,

Welcome to Mortgagefit forum.

adonis · Posted: Fri Apr 06, 2007 6:38 am Post subject:

Well kathy,

I don't think there are any such laws but then if the mortgagee is not informed, then he can take legal actions. I mean he has the right to do so because he has invested his money and may expect you to keep him well-informed of any such property transfer through quit claim deed.

To avoid any trouble, it is better to inform the mortgagee.

Guest

I am in the process of quitclaiming an investment property to the tenant to allow them the opportunity to purchase it. It has become too expensive for me to pay the mortgage on this property and maintain it, and I presently owe much more than it is worth on today's market. Do you know of lenders that will allow a re-fi for rate and term for the new owners without seasoning.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

Yes, there are a few lenders that will allow someone to refinance without being on title for a specific period of time.

Guest

After giving my ex a quit claim on property, unknown to me my ex took out another loan $9.000.00 on the property in both our names using the original lender and e-signed for the note. The money was put into his account and I only found out after the loan was turned over to collections and I am being dunned. He failed to disclose thsi to me and failed to disclose to the bank he had a quit claim - is this fraud as well as deception, and perhaps identity theft?

adonis · Posted: Sun Aug 07, 2011 9:45 pm Post subject:

Welcome alley,

Your query has been replied to in the given page:
http://www.mortgagefit.com/predeal/about52696.html

Take a look at it. I hope it will help you.

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quit claim - refinance