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quit claim - refinance

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Kathy Guest 0.10 Dollars($)	Posted: Thu Apr 05, 2007 10:14 am    Post subject: quit claim - refinance If you quit claim your property to someone and still owe a balance on the mortgage, if the mortgagor is not notified, are you violating any laws? I assume that a mortage company will not refinance the mortgage if the quit claim has been filed, correct? Thanks _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Butzner Guest 0.10 Dollars($)	Posted: Thu Apr 05, 2007 10:58 am    Post subject: 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.
robert espenson Guest 0.10 Dollars($)	Posted: Thu Apr 05, 2007 11:36 am    Post subject: Hi Kathy, Quote: I assume that a mortage company will not refinance the mortgage if the quit claim has been filed, correct? Lender would agree to refinance the mortgage in the name of new owner if he can qualify as per lender's requirements. robert espenson
colin Moderator Joined: 30 Jun 2006 Posts: 602 Location: Waltham, Massachusetts 112.62 Dollars($)	Posted: Thu Apr 05, 2007 12:52 pm    Post subject: Hi Kathy, Welcome to Mortgagefit forum. Quote: 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 If the lender is not informed that title ownership has changed and somehow afterwards he becomes aware of it, he would immediately demand full pay off. Colin
adonis Joined: 22 Oct 2005 Posts: 1694 Location: ALASKA 175.62 Dollars($)	Posted: Fri Apr 06, 2007 6:38 am    Post subject: Well kathy, I don't think there are any such laws but then if the mortgagee is not informed, then he can take legal actions. I mean he has the right to do so because he has invested his money and may expect you to keep him well-informed of any such property transfer through quit claim deed. To avoid any trouble, it is better to inform the mortgagee.
Geri Guest 0.10 Dollars($)	Posted: Mon Sep 15, 2008 5:59 pm    Post subject: Quitclaiming and Refinancing 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 1.03 Dollars($)	Posted: Mon Sep 15, 2008 10:22 pm    Post subject: Yes, there are a few lenders that will allow someone to refinance without being on title for a specific period of time. _________________ Lisa Scherzer Allpointe Mortgage Expert Mortgage Broker 440-521-7060 Free Mortgage Quotes Get Mortgage Information Search Real Estate Agents Here

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