wants to file a quick claim before selling the house

Guest 0.10 Dollars($)

my wife wants to sell the house which we both refinanced two years ago. our financing agent called me about this. i plan to file for a quick claim so i will not be responsible for paying any refinancial obligation whether the house got sold or not, however, our agent says that i cannot file any quick claim due to i will still be obligated to pay for the refinancing. please advise.

Guest 0.10 Dollars($)

i need an advise please reply

jameshogg · Posted: Mon Nov 24, 2008 10:43 pm Post subject:

Hi confuse guy!

Filing a quitclaim deed will not release your from the obligation of paying the mortgage. By a quitclaim deed, you will only be able to remove your name from the property deed. Yes, your lender is absolutely right that you will still be responsible for paying the mortgage dues. You will equally responsible if your wife cannot pay off the mortgage dues. Once property is sold, you and your wife will have to pay off the mortgage dues first. You can also try for a short sale and consult the lender.

Thanks.

All times are GMT - 7 Hours

Page 1 of 1