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My Mother and I jointly bought a home in order to use the joint incomes to qualify for a better rate. Both names are on the mortgage and the title.

I am getting married and am thinking about signing a Quit Claim so that the property will only be hers. I do not care about or want to be removed from the mortgage responsibility.

When the QC is filed is the lender notified and can they cause problems for us. The home is in Ohio.

Niicss · Posted: Mon May 26, 2008 5:20 am Post subject:

Welcome RP,

You should inform the lender before quitclaiming the property to your mother's name. If you don't take the lender's consent, then he may call the loan due and payable according to the Due-on-sale clause.

Know more about Due-on-sale clause at http://www.mortgagefit.com/due-sale.html

Let me know if you have any more questions.

helping_user · Posted: Mon May 26, 2008 11:22 pm Post subject:

Hi RP,

By signing quit claim deed, you can just remove your name from the title. But you will still remain on mortgage. If your mother can't pay mortgage dues, then you will be completely liable for that.

But if you are looking to remove yourself from mortgage too, then you need to talk with your lender. And in that case, Refinance may be a way to remove your name from mortgage.

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