Anonymous
Posted on: 24th Sep, 2006 05:56 pm
I QUIT CLAIMED A PROPERTY TO A FRIEND. HOW CAN I GET THE HOUSE OFF MY CREDIT?
Hi Youngatheart,
I guess you want to get rid of some credit taken against your house. Well, even if you have quit claimed your property to a friend, you retain the liability of paying down the credit.
If at all, you have any trouble repaying the credit, you can transfer the debt in your friend's name provided he is willing to pay it off. But this is possible only at the consent of the creditor.
Regards,
Jessica.
I guess you want to get rid of some credit taken against your house. Well, even if you have quit claimed your property to a friend, you retain the liability of paying down the credit.
If at all, you have any trouble repaying the credit, you can transfer the debt in your friend's name provided he is willing to pay it off. But this is possible only at the consent of the creditor.
Regards,
Jessica.
hi,
you can go for novation by which one can transfer loan in some other person's name. but that's not easy as one has to convince the lender first.
since your friend has interest in your property now, so try to transfer the loan in his name. if he does not agree, may be, you can ask someone else but without repaying the credit, you can't simple do away with it and get the house off your credit.
you can go for novation by which one can transfer loan in some other person's name. but that's not easy as one has to convince the lender first.
since your friend has interest in your property now, so try to transfer the loan in his name. if he does not agree, may be, you can ask someone else but without repaying the credit, you can't simple do away with it and get the house off your credit.