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Chuck
Guest
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 Posted: Tue Jul 03, 2007 7:39 am Post subject: quick claim deed |
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I,m divorced and have done a quick claim deed to my ex. she is letting the house go into forecloser am I still responsably for the loan can lender come after me?
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 larry
Joined: 27 Jun 2007
Posts: 3328
474.61 Dollars($)
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| Posted: Tue Jul 03, 2007 10:04 am Post subject: Re: |
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Hi Chuck,
Through the quitclaim deed you have transferred the title of the house to your ex. And if the loan is in your name, you are still responsible to pay it off as the loan is not transferred through the deed. |
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colin
Moderator
Joined: 30 Jun 2006
Posts: 602
Location: Waltham, Massachusetts
112.65 Dollars($)
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| Posted: Tue Jul 03, 2007 12:30 pm Post subject: |
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Hi Chuck,
Welcome to Mortgagefit forum.
If your ex hasn't refinanced the loan in her name then you are still a co-borrower along with her. And if the house goes into foreclosure your credit will get affected and you would be liable to claims of deficiency judgment by the lender.
Your ex wife will lose the house but you will also get affected just because you are still on the loan despite of having transferred property interest in her name.
Did your divorce decree mention anything about who will have the responsibility of continuing the mortgage payments?
Colin |
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Behrendt
Guest
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| Posted: Tue Jul 03, 2007 1:04 pm Post subject: |
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| Quote: | | I,m divorced and have done a quick claim deed to my ex. |
Didn't she refinance at the time quit claim deed was made? And did the lender know that house was transferred to her? |
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