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Release of interest

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pamelamorgan Joined: 29 Mar 2010 Posts: 1 1.29 Dollars($)	Posted: Mon Mar 29, 2010 1:14 pm    Post subject: Release of interest Like 0 Dislike 0 A young gentleman that works for me, divorced in Texas, his wife took the house in the action and is suppose to pay the mortgage. She is now behind, 1 payment I think. He is still the primary on the mortgage. Can he quit-claim this to her to get it off his credit? If it continues, since he works for the DOD, he will lose his job.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Mar 29, 2010 7:58 pm    Post subject: Like 0 Dislike 0 Hi pamelamorgan! Welcome to forums! Signing a quit claim deed will remove the young gentleman from the property deed but not from the mortgage. His wife needs to refinance the loan or assume it now and release him from the liability of paying the mortgage dues. Once she does so, the loan will get removed from his credit. However, as the wife is delinquent in the mortgage payments, I don't think the lender will be ready to refinance the loan. Feel free to ask if you've further queries. Sussane

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