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I filed bankruptcy and it was discharged in December of 2006, included in the bankruptcy was my home that I owned with my husband. I was fully discharged of the financial responsiblity. Now my husband (soon to be ex filed for divorce last month) is selling the house by short sale. The deed is still in my name. I never signed a [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url] and now my husbands realtor wants me to sign it, If i sign over a quit claim deed does that effect the mortgage loan for the house. Is the deed completely separte from the mortgage loan. I think what I am trying to ask is will signing the quit claim deed make me in any way responsible for the mortgage loan that I filed bankruptcy on. Thank you

blue's picture
blue | Joined: October 21, 2005 09:17 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Erin,

Welcome to Mortgagefit discussion board.

I am not clear on few things.

Is the mortgage in your husband's name or both names?

"I think what I am trying to ask is will signing the quit claim deed make me in any way responsible for the mortgage loan that I filed bankruptcy on."

You included mortgage in bankruptcy which means you were on the mortgage. Why your husband is trying to sell the house which is in your name? And you mentioned short sale. Short sale is done when the borrower is not able to make the payments. Is the mortgage in default?

In general what I can say is that by signing the quit claim deed you will lose all your rights over the house but if you are on the mortgage then quit claiming the house will not have any affect on it. You will continue to remain on the mortgage and responsible for making the payments.

Please give some other details so that we can give better advice.

Thanks
Blue

Like | Dislike | Share | Posted: Tue, 07/17/2007 - 12:52 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

The mortgage and the deed is in both of our names. I was discharged of the bankruptcy, which included the house, in December. I haven't signed anything pertaining to the deed. The house is in default and he is trying to do a short sale so the foreclosure doesn't go through. In March I got a letter from the mortgage company showing that I filed bankruptcy and am immune from all personal liability. Now his realtor says that I need to sign for the quit claim deed. I am just worried about signing anything, especially since I filed bankruptcy on it.
Thanks

Like | Dislike | Share | Posted: Tue, 07/17/2007 - 13:11 | Post subject:

miller_st's picture
miller_st | Joined: January 17, 2007 04:47 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

[quote:fb66e08a5d]Now his realtor says that I need to sign for the quit claim deed.[/quote:fb66e08a5d]

As the house is in both names for completing a short sale your signatures will be required. Have you inquired with lender on whether they have allowed a short sale or is it that only your husband is dealing with the lender?

It can be possible that lender has not mentioned anything about short sale and just to get the house your husband is asking you to sign the deed.

Miller

Like | Dislike | Share | Posted: Tue, 07/17/2007 - 13:50 | Post subject:

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

[quote:1527dad3de]I am just worried about signing anything, especially since I filed bankruptcy on it. [/quote:1527dad3de]

In chapter 13 it is possible that mortgage payments are continued over the original repayment schedule and only the defaults are paid off during the plan. This might be what had occurred in your bankruptcy plan.

Like | Dislike | Share | Posted: Tue, 07/17/2007 - 13:59 | Post subject:

Caron's picture
Caron | Joined: July 19, 2005 08:37 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Well Erin, the quitclaim deed and mortgage are different issues. So, even if do a quitclaim, the responsibility of paying off he mortgage remains with the borrower himself. And, if you have filed bankruptcy and received a discharge from it, then you need not worry about signing any deed. But it's better to read through the legal paperwork before you sign on it. By the way, are you on the loan?

Like | Dislike | Share | Posted: Wed, 07/18/2007 - 02:09 | Post subject:

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