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Will quit claim stop me from getting another mortgage?

Posted on: 09th Aug, 2006 09:12 pm
my wife & i are divorcing and i am wondering if i quit claim deed the house to her, will it affect my opportunity to qualify for another mortgage?
Hi Todd,

If you quit claim your house, you are actually transferring your share in the property to your wife. So this may affect your chance to qualify for the mortgage.

Thanks,

Jerry.
Posted on: 09th Aug, 2006 09:24 pm
Hi Todd,

Since you are divorcing, the court has to decide who will keep the property. If the property is in your name, you can apply for the loan. But if you quit claim, you will not have any share in the property and thus you are unlikely to get the home loan.

Know more about Transferring the property-interest through Quit Claim Deed from our resources.

Thanks,

Caron.
Posted on: 09th Aug, 2006 09:29 pm
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