---

quit claim liability

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
warren Guest	Posted: Thu Jul 21, 2011 8:07 am    Post subject: quit claim liability Like 0 Dislike 0 I have quit claimed my interest in a house to my ex spouse. Am i liable for mortgage if spouse defaults, dies, or house is foreclosed upon? thank you
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Thu Jul 21, 2011 10:13 am    Post subject: Like 0 Dislike 0 Warren, if you were liable for the mortgage in the first place, and your former spouse has not refinanced that mortgage, then you're still on the hook for payments. I would like to think that this had been arranged in the divorce settlement, but it seems like it wasn't, based on your question. You ought to negotiate to seek that specific action - for your former spouse to be required to refinance so as to eliminate your obligation. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Jul 21, 2011 8:06 pm    Post subject: Like 0 Dislike 0 Hi warren! Welcome to forums! If your name is mentioned on the mortgage docs as one of the borrowers of the loan, then you will be liable for the mortgage payments. If your ex does not make the payments on time, then the lender can come after you for the payments. Also, if the property is foreclosed by the lender, it will negatively affect your credit report. Feel free to ask if you've further queries. Sussane

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0