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brendapritt1 · Joined: 06 Jul 2011 Posts: 1 1.30 Dollars($)

My husband is trying to divorce me and has gone to the bank to refinanance the mortgage loan. He want me to sign a quit claim to get my name off the deed. I don't want this. what ic the law for banking

chrisgummerson · Posted: Wed Jul 06, 2011 10:51 am Post subject:

If you are divorcing, then you probably want to sign the quitclaim. If you search on this site, there is a ton of EX spouses who have gotten screwed because the other party did not refinance the property into their name. Then the EX stops paying and you would wind up with a foreclosure on your record and the possibility of the lender coming after you for a deficiency judgement. There is also IRS implications. If you get a court order to divide your property and you are entitled to some of the equity, then the court will say the home needs to be refied into others name, and pay you out the money owed. If you stay on the title, and the loan, then you are liable for the mortgage until the X sells or refinances. I hope this was clear, follow up if needed.

raymond · Posted: Wed Jul 06, 2011 2:35 pm Post subject:

>>what ic the law for banking

You need to consult a Divorce Attorney as soon as possible. Everything that happens from this point on needs to be done fairly, and your Attorney will see to it that you're treated fairly.

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