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How to get my name off of a mortgage loan?

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Post Posted: Sun Jan 30, 2011 3:03 pm    Post subject: How to get my name off of a mortgage loan?
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I signed a quitclaim deed with the understanding that I would be giving up all of my rights to the house but that my name would also be coming off of the loan. And, that didn't happen. Now that I've signed the quitclaim deed, how do I go about getting my name off of the loan?
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

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Location: Nevada
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Post Posted: Sun Jan 30, 2011 8:51 pm    Post subject:
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Hi Guest,

You should ask the present owner of the property to refinance the mortgage in his or her name. This will remove your name from the mortgage docs. Signing a quitclaim deed will only remove your name from the property deed. It won't remove your name from the mortgage docs.

Thanks
Icon Mini Profile rutchelldb





Joined: 24 Jan 2011

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Post Posted: Fri Feb 04, 2011 1:57 pm    Post subject: Re: How to get my name off of a mortgage loan?
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Signing the quit claim only transferred the ownership of the house to the other party. To remove your name from the joint mortgage, the other party should refinance the mortgage under his name to modify its status from "joint" single-owner property.
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