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TAKE MY NAME OFF THE DEED FOR MY HOUSE

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judmar35 Joined: 11 Apr 2010 Posts: 1 1.00 Dollars($)	Posted: Sun Apr 11, 2010 1:40 pm    Post subject: TAKE MY NAME OFF THE DEED FOR MY HOUSE Like 0 Dislike 0 My mother & i own a house & now i am married & want to get my own home, what i want to know, is if i take my name off the deed & transfer everything to my sister & mom, will i be able to get another loan & buy another house on my own? Or will this make my credit bad ?
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Apr 11, 2010 9:06 pm    Post subject: Like 0 Dislike 0 Hi judmar, You will be able to remove your name from the property with the help of a quit claim deed. However, if your name is on the mortgage, then your sister will have to refinance the loan in order to release you from the financial liability. Once she does so, you'll not be liable for the property in any way. Then, you would be able to apply for a mortgage in your name to buy a property. This will not have a negative affect on your credit. _________________ Procrastination is the enemy of your financial success

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