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Can one co owner who does not qualify for financing quit claim the property to the other owner in order to refinance?
Wiki User
∙ 12y ago
Yes. Some lenders require it when two people own property and one has poor credit. However, you should discuss the situation with an attorney to make certain the person who is transferring their interest understands the consequences. They will no longer own the property.
Wiki User
∙ 12y ago
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How do you get co borrower off your home loan?
You will have to refinance the debt with your creditor, and qualify for the debt on your own merit. The co-signer will have to file a Quit Claim Deed.
How can I terminate my ex-partner's obligation on a mortgage loan without removing him from the mortgage loan as I won't be approved for a refinance if I have sole responsibility for the loan?
No you can not. The best you can do is take him off the deed by having him sign a quick claim deed. You will need to qualify for a refinance to get him off the loan.
If you paid the equity to your spouse from your divorce and obtain a quick claim deed can his name be dropped from the deed without refinancing?
It is a "quit claim deed" that you have to obtain and you have to refinance to drop the other name. It is a "quit claim deed" that you have to obtain and you have to refinance to drop the other name. It is a "quit claim deed" that you have to obtain and you have to refinance to drop the other name. It is a "quit claim deed" that you have to obtain and you have to refinance to drop the other name.
Can an elderly person in Tennessee own property and qualify for Medicaid?
The question might be asked, "How MUCH property," and, "How much is it worth?" I doubt that you could be a millionaire landowner and make a valid claim for assistance. But under "normal homeowner" circumstances, yes, you do not have to be destitute in order to qualify.
What companies offer a no fee mortgage refinance?
There are many companies that claim to offer a no fee mortgage refinance. Such services are never free, it always costs something to refinance one's mortgage.
Can you sign quitclaim deed if you still owe mortgage company?
Quitclaim deeds do not release the person quitting claim from their obligations under a mortgage, although a quit claim deed is a step in the right direction. In order to remove the party who quits claim from the mortgage, you must refinance the mortgage in the name of the party to whom title or interest in the property has been conveyed. The credit scores, income and assets of the party quitting claim can no longer be used for the mortgage, and this has traditionally meant trouble for borrowers seeking to refinance to remove the party who quit claim. Quit Claim deed refinancing can be a complex situation, which requires sensitivity and specific expertise in handling refinance transactions pursuant to quit claim deeds.If you have received property or plan to receive property through the execution of a quit claim deed, for example in case of divorce, the only way to finalize ownership of property and mortgage in your own name is to refinance the mortgage once the property is deeded to you, however the overwhelming majority of lenders will not allow you to refinance property unless you have been on title to the property for at least 12 months..
What can I do to help me reduce my taxes on my rental properties Are there any deductions I can make?
If you upgrade your rental property at all you can claim that on your taxes. You can treat the rental just like you would your home, so all of the deductions that you qualify for on your own home, you may qualify for on the rental.
How do you claim auto insurance when you wrecked your car on your property?
It would be an auto claim for the damage to the other and a homeowners claim for the damage to your property. You cannot be liable to yourself, so you cannot claim the property damage on your auto policy.
You co-signed a vehicle for your now ex husband you want to remove your name from the vehicle how do you do tht?
although you can quit-claim to forsake your rights to the property, you are still financially obligated. In short, he would need to refinance the vehicle to totally remove you
Does the tier extensions of the first claim carry over to the second claim?
Yes, if the state and the claimant qualify.
What services are offered by Mezzanine Financing?
Mezzanine financing is not a company that will offer services but a service that can be offered by companies. Mezzanine financing refers to a preferred equity or a subordinated debt tool that represents a claim on a company's assets.
How many dependents can you claim on a tax return?
As many as legally qualify.
