Compare Mortgage Quotes

karimckenzie · Joined: 25 Feb 2010 Posts: 1 1.28 Dollars($)

My name and my common law spouse's name are on the mortgage. I wish to vacate the home. If I do a quick claim deed over to him and he does not refinance the loan back into his name and he starts to miss payments or is late on payments, will I be resposible also, if I do the quick claim deed over to him?

jameshogg · Posted: Thu Feb 25, 2010 8:23 pm Post subject:

Hi karimckenzie,

Signing a quit claim deed will remove your name from the mortgage but not from the mortgage docs. If the spouse does not pay off the dues, you would be responsible for it and your credit would be badly affected due to his late payments. Thus, you should always ask your spouse to refinance the loan in his name after you transfer the property.

Thanks

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Quick Claim Deed