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rental property & quickclaim

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Q Guest	Posted: Sun Oct 17, 2010 3:31 pm    Post subject: rental property & quickclaim Like 0 Dislike 0 I own property in the state of Ohio. I have a tenant that lives in the property and has fixed up the house. I basically want to get rid of the house because the mortgage plus other bills are too much for me financially. Is there a way I can transfer the title and mortgage over to my tenant without the tenant going through a loan approval? The tenant has bad credit. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Oct 17, 2010 8:33 pm    Post subject: Like 0 Dislike 0 Hi Q, You can transfer your property to the tenant with the help of a quit claim deed. However, as far as the mortgage is concerned, your tenant will have to refinance the mortgage in his or her name. As your tenant has bad credit, it won't be possible for him or her to refinance the mortgage. _________________ Procrastination is the enemy of your financial success

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