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quit claim deed

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Icon Mini Profile ncdotmike





Joined: 09 Jul 2008

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Post Posted: Wed Jul 09, 2008 1:17 pm    Post subject: quit claim deed
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I live in NC and am trying to help my daughter from foreclosure. I am going to pay off her mortgage and then have her quit claim deed the property to me. Is this my best option? thanks mike
Icon Mini Profile laphillips
laphillips
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Joined: 10 May 2008

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Location: Yucaipa, CA
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Post Posted: Wed Jul 09, 2008 4:00 pm    Post subject: quit claim deed
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Welcome Mike,

This sounds VERY generous to me. Are you going to let her continue to live in the home? Are you financing the home or simply paying it off for her?

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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.**
Icon Mini Profile Jeanette
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Location: 760 Lynhaven Parkway, suite 140 Virginia Beach, Virginia
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Post Posted: Wed Jul 09, 2008 8:49 pm    Post subject:
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Mike, the other option will be to pay off just the past due balance owed. Then have her sign the quit claim deed giving you sole interest in the property . Then and only then can you do a refinance in your name only.

Talk to your attorney

Jeanette Smith
Mortgage Planner
Union Mortgage Group

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