Posted: Wed Jul 16, 2008 1:12 pm Post subject: Is quit claim needed for joint mortgage?
My boyfriend moved into my house with me and we refinanced the mortgage together. He is not on the deed only the mortgage. We have since split up and he moved out. Do I need a quit claim to avoid trouble later?
Posted: Wed Jul 16, 2008 5:05 pm Post subject: Is quit claim needed for joint mortgage?
Hello Rebecca,
If your boyfriend is only on the mortgage but was never added to title (deed) I'm not sure what you would be quit claiming since the quit claim deed does not have any affect on the mortgage. A quit claim deed only concerns ownership of the property! _________________ Lynnette Phillips
Loan Officer/Realtor,
Foreclosure Consultant
Home Pride Mortgage
My Blog: http://activerain.com/helpingufindaway
My website: http://lynnettephillips.com
**This is not intended as legal advice. I am not an attorney.**
You own the property 100% and you are both liable for the mortgage. When you say "avoid trouble later", are you concerned he may make a claim to ownership of the property at a later date If so, you may want to have some sort of written agreement with him (if possible) that he relinquishes. Might want to ask an attorney to be safe. _________________ Mike Sweeney
LionSaves.com - refinance debt
views expressed on this forum are my opinion as a mortgage professional, not legal advice
How was he able to finance and not be on property?
That was a mistake on his part.
Good Luck
Brian _________________ Licensed Broker 50 states http://www.aimwithfocus.com
Need quick advise email or PM Glad to help
If you refinanced the mortgage together he should be on the title unless he quitclaimed the property back to you. Check with your county or your title company. _________________ Eugene Volovik
Home Loan Consultant
Countrywide
612-481-3127
Conventional, FHA and Commercial Lending in 48 states
bentonrebecca
