Posted on: 31st Aug, 2009 07:39 pm
If my mom files the quitclaim deed does that completely take my father off of the mortage or does she need to get the house refieance?
hi tanyaf,
welcome to our forum.
if your mother files the quiteclaim deed but mortgage not paid off yet, in this case lender will ask you for refinance loan on this persons name who become owner of property & she must hae to sign quite claim deed.
thanks & regards.
gunz.ijjistaff.
welcome to our forum.
if your mother files the quiteclaim deed but mortgage not paid off yet, in this case lender will ask you for refinance loan on this persons name who become owner of property & she must hae to sign quite claim deed.
thanks & regards.
gunz.ijjistaff.
Hi Tanya,
Signing a quitclaim deed will not remove your father's name from the mortgage doc. Once the quitclaim deed is signed in your mother's favor, she needs to refinance the loan in her name. Once she does so, your father will be removed from the liability of paying off the mortgage.
Thanks
Signing a quitclaim deed will not remove your father's name from the mortgage doc. Once the quitclaim deed is signed in your mother's favor, she needs to refinance the loan in her name. Once she does so, your father will be removed from the liability of paying off the mortgage.
Thanks