Home arrow Mortgage Forums arrow Deeds, Property Transfer and Estate Planning arrow

Quick claim deed

Author Message
krkr1007

Guest







Post Posted: Wed May 14, 2008 11:20 am    Post subject: Quick claim deed
Like 0
Dislike 0

If I sign a quick claim deed does that mean my name is off the loan?
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile JuanHdez
JuanHdez




Joined: 14 May 2008

Posts: 33
Location: San Diego, CA
13.08 Dollars($)
Post Posted: Wed May 14, 2008 12:22 pm    Post subject:
Like 0
Dislike 0

Confused Unfortunately for you the answer is no. By signing a Quit-claim deed you relinquish rights to the property but you are still obligated on the loan. The only way to remove yourself from the loan is either by paying off the loan, or having it refinanced by the other parties involved. You might also consult the services of a Real Estate Attorney to get some detailed information.
Icon Mini Profile Niicss
Niicss




Joined: 03 Oct 2005

Posts: 4770
Location: New Jersey
499.28 Dollars($)
Post Posted: Wed May 14, 2008 10:35 pm    Post subject:
Like 0
Dislike 0

Welcome krkr.

Even I agree with JuanHdez. your name will not be removed from the loan if you quitclaim the property to someone. The grantee to whom you have quitclaimed the property need to refinance the mortgage on his/her name to relinquish your mortgage liabilities.

Hey JuanHdez you seem to have very good knowledge about this industry. Please let us know something about you at http://www.mortgagefit.com/introduce-yourself.html

Hope you will enjoy participating here Smile

_________________
Good is the Enemy of Great.
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
888-485-7561
Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool






Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.065 seconds.