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Divorce

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Mort Guest	Posted: Mon Sep 12, 2011 5:53 pm    Post subject: Divorce Like 0 Dislike 0 Wife has a issue playing cards, so am going to get her to sign a quick claim deed and then file for divorce. At this point she agrees because of her issue, is there any down side to doing this? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
tomburris Community Expert Joined: 03 Oct 2007 Posts: 135 Location: North Dallas 19.12 Dollars($)	Posted: Mon Sep 12, 2011 6:01 pm    Post subject: Like 0 Dislike 0 this is more of a legal question than a mortgage question. and whether you are in a community property state will impact the answer my advice: contact a real estate attorney _________________ Tom Burris Mortgage Banker 214-763-4629 cell/text/nights/weekends http://www.dallasloanguy.com/ Location: North Dallas, TX Coverage: The entire Great State of Texas NMLS# 335055
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Sep 12, 2011 7:03 pm    Post subject: Like 0 Dislike 0 Hi Mort! Welcome to forums! If your wife signs the quitclaim deed and transfers the property to you, then you will become the sole owner of the property. If both of you are co-borrowers of the mortgage, then you will have to refinance the mortgage in your name in order to release your wife from the liability for paying the loan. I don't think there is any downside of doing this. Feel free to ask if you've further queries. Sussane

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