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Heatherpetros · Joined: 13 Oct 2008 Posts: 1 1.33 Dollars($)

Both of our names are currently on the mortgage... I cannot refi on my own because we are up side down on the loan. Can we Quitclaim it ?

sweeney · Posted: Mon Oct 13, 2008 7:33 pm Post subject:

Hi and welcome to the forum. A quitclaim only removes or adds names from/to the title, not the mortgage. Unfortunately, a refinance is required to do that.

Niicss · Posted: Mon Oct 13, 2008 9:26 pm Post subject:

Hi Heatherpetros!

I agree with Sweeney in regard to the Quitclaim deed. He is also correct saying that you will have to refinance. Even lenders prefer refinancing for transferring the mortgage. However, you can try for the process of novation provided you can convince the lender for this.

Thanks.

gmakerley · Posted: Tue Oct 14, 2008 1:47 pm Post subject:

there is clearly more here than meets the eye, heather. what is it that causes you to have to refinance in one name only? have you attempted, yet, to negotiate with the lending institution?

Guest

how much will it cost me to remove a name from a mortgage.Please i need urgent answers.

smithsussane · Posted: Fri Feb 12, 2010 12:29 am Post subject:

Hi Guest!

Welcome to forums!

If you want to remove your name from the mortgage docs, you will have to ask the co-borrower of your loan to refinance it in his/her name. Once this is done, you would be free from the liability of paying off the loan.

Feel free to ask if you've further queries.

Sussane

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Remove one party from a mortgage