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quit claim and refinance

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velita Joined: 11 Jun 2010 Posts: 2 1.75 Dollars($)	Posted: Fri Jun 11, 2010 7:56 am    Post subject: quit claim and refinance Like 0 Dislike 0 Confused in Tennessee! We purchased a home in 1998, I was not on the loan, ASSUMED I was on the deed. Refinanced in 2001, I was added to the mortgage, still assumed I was on the deed. We are now in the process of refinancing, working on it since March. Putting the loan completely in my name, hubby's credit would not allow him to be on the loan. Got the title searched, a few of his liens on the title, and one of mine which had been paid. We were going to roll his into the mortgage loan. Now I find out that since I am not on the deed, I cannot legally refinance the home. Husband said to quitclaim it, mortgage title company's attorney said I would have to be on for 12 months before refinancing. The refinance papers in 2001 listed him as sole owner. In Tennessee, evidently you are not automatically on a deed if property was purchased after being married. Married in 1994. Any insight would be appreciated.
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Jun 13, 2010 10:06 pm    Post subject: Like 0 Dislike 0 Welcome velita, Your name has to be mentioned in the deed in order to claim ownership. Unless your name is on the deed, you won't be able to refinance the loan. Also, the attorney is correct with the seasoning requirement. I don't think there's hardly anything that you can do in this regard. _________________ Procrastination is the enemy of your financial success

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