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Am i still responsible for the Payments if i quickdeed my house to my ex?

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mjk820204 Joined: 28 Aug 2008 Posts: 1 1.30 Dollars($)	Posted: Thu Aug 28, 2008 11:11 am    Post subject: Am i still responsible for the Payments if i quickdeed my ho Like 0 Dislike 0 Am i still responsible for the Payments if i quickdeed my house to my ex?..i am going through a divorce if i quickdeed the house to him am i still responsible for payments with the mortgage company
laphillips Community Expert Joined: 10 May 2008 Posts: 134 Location: Yucaipa, CA 33.92 Dollars($)	Posted: Thu Aug 28, 2008 1:24 pm    Post subject: Am i still responsible for the Payments if i quickdeed my ho Like 0 Dislike 0 Are you signed on the loan? If so yes. A quit claim deed transfers property interests & financial obligations in regard to property taxes, etc. but does not release you from financial obligations where mortgages are concerned. _________________ 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.**
brian1 Community Expert Joined: 14 Jun 2008 Posts: 448 Location: Northern California 15.61 Dollars($)	Posted: Thu Aug 28, 2008 4:43 pm    Post subject: Like 0 Dislike 0 Agree ONLY quitclaim it if they are able to refinance it into a new loan without your name on it Otherwise you do not own but have liability Brian _________________ Licensed Broker 50 states http://www.aimwithfocus.com Live Chat available Need quick advise email or PM Glad to help Pre-approvals www.applyonlinesecure.com
CA Broker Guest	Posted: Mon Sep 01, 2008 9:13 pm    Post subject: Like 0 Dislike 0 Yes. The divorce decree does not override your contractual obligation to the note. If there is equity in the property, your ex may obtain a refinance to buy your interest out without it being considered a cash out refinance. You should look into that.

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