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Quick claim

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2Timothy Guest 0.10 Dollars($)	Posted: Sun Sep 28, 2008 8:49 pm    Post subject: Quick claim With a quick claim, is the homeowner is responible for the loan??
smithsussane Joined: 18 Sep 2008 Posts: 969 Location: Alaska 90.50 Dollars($)	Posted: Sun Sep 28, 2008 9:43 pm    Post subject: Hi Timothy! Welcome to Forums! Quitclaim only transfers the property to another person. It does not transfer the mortgages. Thus, the person who has taken the mortgage will be responsible for paying it off. Feel free to ask if you have further queries. Sussane
jerry Moderator Joined: 17 Oct 2005 Posts: 1086 Location: MICHIGAN 135.41 Dollars($)	Posted: Tue Sep 30, 2008 3:54 am    Post subject: Hi Timothy! The person who has taken the mortgage will be responsible for the loan, though he/she has quitclaimed the property to someone else. Quitclaim deed only transfers the ownership of the property but not the mortgage. To transfer the mortgage, the new owner has to do a refinance. Thanks, Jerry

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