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Is a Quit Claim Deed Appropriate for Our Situation?

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Angeliahugg Guest	Posted: Tue Oct 05, 2010 9:24 am    Post subject: Is a Quit Claim Deed Appropriate for Our Situation? Like 0 Dislike 0 My husband and I had to relocate to NC from OH due to job transfer and have been trying to sell our home for two years. We have explored other options such as short sale and deed in lieu of foreclosure, however both of those options ruin your credit. We do not want to do anything to ruin our credit, however, we have to do something because we have been renting for two years now and would like to purchase a home here in NC. Please let me know if a Quit Claim Deed is appropriate for our situation. Thanks!
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Wed Oct 06, 2010 12:09 am    Post subject: Like 0 Dislike 0 Hi Angelia, A quit claim deed is only a way to transfer the property from one person to another. If you're transferring the property to someone else, then you should ask the person to refinance the loan in his or her name. This will make that person liable for the dues and you won't have any liability towards it. Thus, you'll be able to get a mortgage to buy a new property in NC. Thanks

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