Who's suppose to sign the quitclaim deed?

rtmandler · Joined: 28 Nov 2007 Posts: 1 1.44 Dollars($)

When I divorced in 2001 my husband recieved the house, was I suppose to sign the quit claim deed or my ex husband? I thought my lawyer said that he would have to fill it out and take it to the court house, but I took care of it because he wouldn't of paid for the filing, was this wrong to do? Now my current husband and I are applying for a mortgage and the ex had problems making payments so this is showing up on my credit report. Did I completely screw up back then?
Thanks for any help!

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.77 Dollars($)

Hello Rtmandler,

I have already replied to a similar post here http://www.mortgagefit.com/quitclaim/after-divorce.html

Kindly have a look at it.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Teekster,

Welcome to this forum.

If you sign a quitclaim deed that will only transfer the property. But if that is a mortgaged property, that quitclaim will not remove your name from the mortgage. That is why, your credit is affected as you ex-husband has problems in making payments. You should have asked your ex-husband to refinance to remove your name from the mortgage before signing a quitclaim deed.

Now you can ask him to refinance or do a novation to remove your name from the mortgage.

Thanks,
Larry

michelle · Posted: Thu Nov 29, 2007 4:27 am Post subject:

Hi rtmandler,

I also responded to your other post. Signing the quitclaim removed you from the title but did not remove you from the mortgage as stated above.

I would also recommend that you review your divorce documents to see if it was spelled out that your ex should have removed you from the mortgage within a certain period of time. If you do not understand the documents, you might want to consult an attorney to see if there is any recourse you may have.

Best of luck to you and your new husband. This may take some time to work through so please be patient.

jasonredding · Posted: Thu Nov 29, 2007 3:11 pm Post subject:

Michelle,

You are really in a bad spot right now. Back in 2001 you should have been removed from the mortgage as well as the title, but unfortunatly for some reason lawyers don't always expliain this to people. You will need to get your ex-husband to refinance to remove you. Some peole here suggest that you get a novation but they are extremely difficult and if your ex-husband doesn't make timly payments then there is pretty much noway the bank will go for it.

If you have your divorce decree that says your husband is going top be fully responsible to for the marital home and that you were to be quite claimed offf and him to refinance then some lenders will not count those lates against you. They may want a copy of the quite claim deed also. I just recently got a lender to forgive a forclosure of an ex that happened only 2 months ago because the payment history was fine up until a year after the divorce. You are going to need a professional that nows how to get these things approved and has a good relation with the bank. Make sure who ever you are working with has already cleared this with an underwriter before you allow them to go wild and submit to everyone because your scores will drop more.

Now jst because a bank can over look lates does not mean the credit bureau will. Your score will remain the same and you will have to qualify at what ever your score is. Unfortunatly this may not have been your fault but your credit is your responsibility. It will also stay on your credit even after he refinances because when you signed the paperwork you ageed to be responsible for the debt also. There is no way to remove it and if anyone says they can they are lying.

The best thing for you to do is see if there is a way to refinance in your current husbands name only, or decided if the intrest rate offered along with the benefits of the refinance justify the refinance.

if you have any other question or concerns feel free to ask.

Guest 0.10 Dollars($)

What kind of fees are there when you refinance? If there are too many he won't do it.
In my decree it only states that he is awared the property, nothing about refinancing.
Thanks for all of the info! This is great, even though it sounds like I did a lot of things wrong!
t

0.10 Dollars($)

T,
Sorry that you are in this position again your attorney should have know this and advised you fully.

With any refinance it depends on the state and what you are looking for. There are low cost fee loans with higher rates and more costly loan programs with lower rates. The nice part of refinances is that usually all the costs can be rolled into the loan except depending on lender the appraisal which costs very on that as well.

What state are you in?

I may be able to help you and your husband along with your ex to get everything straightened out.

email me and we can discuss your whole situaion and even if I can't I can advise you on what to lookl for and hopefully point you in the direction.

jasonredding

T,
Sorry that you are in this position again your attorney should have know this and advised you fully.

With any refinance it depends on the state and what you are looking for. There are low cost fee loans with higher rates and more costly loan programs with lower rates. The nice part of refinances is that usually all the costs can be rolled into the loan except depending on lender the appraisal which costs very on that as well.

What state are you in?

I may be able to help you and your husband along with your ex to get everything straightened out.

email me and we can discuss your whole situaion and even if I can't I can advise you on what to lookl for and hopefully point you in the direction

All times are GMT - 7 Hours

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