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swidgeon
Guest
0.10 Dollars($)
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 Posted: Wed May 14, 2008 2:51 pm Post subject: Quit Claim Deed-Property in Foreclosure |
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Can you quit claim a house that is already in foreclosure?
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 cliff
Community Experts
Joined: 05 May 2008
Posts: 223
Location: Houston
49.13 Dollars($)
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| Posted: Wed May 14, 2008 3:35 pm Post subject: |
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Do you mean pre-foreclosure or post foreclosure?
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Cliff Pape
Market Analyst
www.home-buddies.com |
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laphillips
Joined: 10 May 2008
Posts: 61
Location: Yucaipa, CA
20.63 Dollars($)
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| Posted: Wed May 14, 2008 4:58 pm Post subject: Quit Claim Deed-Property in Foreclosure |
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Unless the loan documents you signed specifically prohibit you from doing so you can...but beware it is not going to relieve you of the debt.
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Lynnette Phillips
Loan Officer/Realtor,
Foreclosure Consultant
Home Pride Mortgage
My Blog: http://helpingufindaway.blogspot.com
My website: http://lynnettephillips.com
**This is not intended as legal advice. I am not an attorney.** |
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swidgeon
Guest
0.10 Dollars($)
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| Posted: Wed May 14, 2008 5:12 pm Post subject: Quit Claim-Foreclosure |
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| I guess it's pre-foreclosure, we have been notified by the court, but we have a 90 day extension. |
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laphillips
Joined: 10 May 2008
Posts: 61
Location: Yucaipa, CA
20.63 Dollars($)
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| Posted: Wed May 14, 2008 5:53 pm Post subject: Quit Claim-Property in Foreclosure |
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Yes you are in pre-foreclosure - you have entered the foreclosure process. Post foreclosure would indicate that the lender has already foreclosed and taken title.
I want to be sure I am understanding correctly
You have an offer on the home,
The transaction has entered escrow and you have a closing date,
The buyer will not be available to sign the papers at close of escrow
If this is correct, then yes you can still quit claim the property UNLESS the loan papers you signed when you purchased the house contain an agreement that you cannot transfer title of the property (this would be before any sale is completed).
However, I would not advise this action. What if you quit claim the property over to another person and now you no longer have any right to the house and something happens to cause the deal not to be completed? Deals have been known to fall out...
_________________
Lynnette Phillips
Loan Officer/Realtor,
Foreclosure Consultant
Home Pride Mortgage
My Blog: http://helpingufindaway.blogspot.com
My website: http://lynnettephillips.com
**This is not intended as legal advice. I am not an attorney.** |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 818
Location: bloomfield, ct
51.66 Dollars($)
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| Posted: Thu May 15, 2008 6:05 am Post subject: |
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you need to consult a legal expert - an attorney.
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George M. Akerley
Relationship Manager
First Horizon Home Loans
37 Jerome Avenue
Bloomfield, CT 06002
860-286-9133
www.gmakerley.net |
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Guest
0.10 Dollars($)
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| Posted: Thu May 15, 2008 7:45 am Post subject: |
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| Swidgeon, it would help if we understood what you where trying to accomplish. What is the main problem you are trying to fix. For example mortgage payment is increasing, lose of job and can't make payment etc. Just let us know what has happened and we can assist you better. |
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Guest
0.10 Dollars($)
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| Posted: Thu May 15, 2008 8:08 am Post subject: |
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| sorry that was me forgot to login |
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cliff
Community Experts
Joined: 05 May 2008
Posts: 223
Location: Houston
49.13 Dollars($)
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| Posted: Thu May 15, 2008 8:12 am Post subject: |
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| Last post was from Cliff. |
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