Will quit claim stop me from getting another mortgage?

Guest 0.10 Dollars($)

My wife & I are divorcing and I am wondering if I quit claim deed the house to her, will it affect my opportunity to qualify for another mortgage?

jerry · Posted: Wed Aug 09, 2006 9:24 pm Post subject: RE:

Hi Todd,

If you quit claim your house, you are actually transferring your share in the property to your wife. So this may affect your chance to qualify for the mortgage.

Thanks,

Jerry.

Caron · Posted: Wed Aug 09, 2006 9:29 pm Post subject: RE:

Hi Todd,

Since you are divorcing, the court has to decide who will keep the property. If the property is in your name, you can apply for the loan. But if you quit claim, you will not have any share in the property and thus you are unlikely to get the home loan.

Know more about Transferring the property-interest through Quit Claim Deed from our resources.

Thanks,

Caron.

All times are GMT - 7 Hours

Page 1 of 1