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big-trucker2000
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 Posted: Sat Feb 09, 2008 9:59 pm Post subject: Quit Claim Deed and Second Mortgage |
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Is it legal for me to sign for a second mortgage after I have already signed a Quit Claim Deed and it has been entered in to the court?
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 livinginnky
Moderator
Joined: 08 Sep 2007
Posts: 637
29.96 Dollars($)
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| Posted: Sun Feb 10, 2008 12:27 pm Post subject: |
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Did you sign the deed over to someone else?
If that is the case, absolutely not! I believe that would be fraud, being the fact you no longer own the property. That would be like me taking a mortgage on my neighbors property.
Maybe I am just misunderstanding the question.
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Eric Matthews
Mortgage Refinance and Home Loan Guide |
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big_trucker2000
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| Posted: Sun Feb 10, 2008 6:11 pm Post subject: |
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| My ex-wife "tricked" me into signing a quit claim deed. A few months later she asked me to sign some papers that would "consolidate" our bills. Turns out, it was a second mortgage. If I had already signed a quit claim deed for the property (it is recorded that she gave me $10.00 for that) is the second mortgage legal or legitimate? Can I be in trouble? Can I get her in trouble for that? She is a paralegal and I naively trusted her, we were doing everything "Friendly". What course of action should I take? I am already considering bankruptcy. And THANK YOU so much for the info! |
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Guest
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| Posted: Sun Feb 10, 2008 8:10 pm Post subject: |
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| If you are worried about it you should talk to an attorney. I would bet that you took ownership once again at the closing of the mortgage. When you signed the rest of the paperwork you probably signed to transfer the deed back to both of you. Just a guess though. |
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jheard
Moderator
Joined: 12 Dec 2007
Posts: 621
Location: Houston, TX
101.28 Dollars($)
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| Posted: Mon Feb 11, 2008 7:14 am Post subject: |
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| If the lender does any due diligence, it will discover you no longer own the house and will deny your loan application. |
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