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quitclaim deed

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jdallegrina@yahoo.com Guest	Posted: Sun Jan 10, 2010 1:46 pm    Post subject: quitclaim deed Like 0 Dislike 0 Hello, what happens if a quitclaim is in effect and the home is sold for less than the payoff or the home goes in foreclosure. who is responsible for the outstanding debt? how does the bank handle that? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10267 Location: ALASKA 1046.07 Dollars($)	Posted: Sun Jan 10, 2010 10:02 pm    Post subject: Like 0 Dislike 0 Hi jdallegrina, The person whose name is on the mortgage will be responsible for the home loan. The lender will sue that person for the deficient balance. If that person is unable to pay the mortgage dues, then the lender may place liens on that person's other properties. _________________ Procrastination is the enemy of your financial success

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