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If you did a quit claim deed will you have to pay all the debt on the house there is two mortgages?
Wiki User
∙ 16y ago
I wish you hadn't already signed.,,,,,,,,,,,,,,, A quit claim, takes away your rights to the property, but, not your responsibility.,,,,,,,,,,,,,,,,, ONLY sign at closing when the property is SOLD!
Wiki User
∙ 16y ago
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Alabama - If spouse is being sued for his own credit card debt and you own a house together would it be a good idea to do a quitclaim deed for you?
yesget the quick claim deed
Can ex-wife refinance with a different mortgage company if the house has 2 mortgages on it the first mortgage is in his name only and the 2nd mortgage is in both names but both names are on the deed?
Yes, If the house was given to you in the divorcee. You will also need to have a quick claim deed done and he will need to sign it. Both mortgages will have to be included in the refi, because they are both tied to the property.
If a relative who is on the deed to your house owes an outstanding debt can the debt collector put a lien on your house?
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If a husband and wife are both listed on the deed for a house can one refinance without the others knowledge?
no, it is illegal both on the house - both have to sign one can sign a quick claim deed and then the other can refi the house? no, it is illegal both on the house - both have to sign one can sign a quick claim deed and then the other can refi the house?
If Annulment is not final and you buy a house in Florida can a lien or collectors come after you and attach a claim to the new home for wife's debt prior to marriage even with quit deed signed?
Debt prior to marriage should not be transferred, but any debt from the marriage is still your responsibility if she fails to pay.
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.
You recently divorced and surrendered the house to her but did not sign a quick deed change of title The bank is now reporting it on your credit What are your options for removal?
Divorce does not alleviate you of liability on a debt; neither does a quit claim deed. Nothing changes or supercedes the original contract (note) or the lien (mortgage) which reinforces it. Your mortgage lender does not care about your marital status. The only way you can terminate your liability is to have your ex- refinance the mortgage loan in his/her name only. Deeds don't have anything to do with debt. A deed conveys your rights to property. You received the deed when you closed your loan. That is how and why you were able to move into the house, rent it out (if you chose), sell it, etc. If you sign a quit claim deed, you are relinquishing (quit claiming) your rights. You cannot relinquish the debt. Only the creditor can do that. Most likely, the lender was always reporting the debt as yours. They will continue to do so as long as the loan has a balance, because you retain liability.
In ohio if i sign a quick claim deed to land and a house when my name is on the loan what exactly does this mean for me?
In Ohio, signing a quick claim deed to land and a house when your name is on the loan will still make you legally responsible for the loan.
In ohio if i sign a quick claim deed to land and a house when my name is on the loan what exactly does this mean for me-?
In Ohio, if you sign a quick claim deed to land and a house when your name is still on the mortgage loan, you will still be responsible to the bank.
Are you liable if you are getting a divorce and your house is facing foreclosure but your name is not on the deed?
Getting a devorce and house is facing forclosure but my name is not on deed. Am I liable.
SHow do I sign over house to spouse?
Fill out a Quit Claim Deed - have it notarized!!
Satisfaction of note with two mortgages?
A note indicating you satisfied both of your mortgages may proceed the deed you will receive from your mortgage company. You should put your deed in a safe place when you get it.
