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If your friend and you want to have one of your names removed from a mortgage is a quit claim what you need?
No. A quit claim is simply declaring that person has no interest (economic or otherwise) in the property. They are being removed from the title. A quit claim has no impact on the loan that is secured on the property. Only the lender who owns the loan can release a party from the loan. For the most part a lender has no incentive to remove one person from the loan as that increased the risk to the lender for no benefit. The traditional way to remove a borrower is to pay off the loan. The party that wants to continue to own the property refinances with the old loan being paid off. Being on the property's title and being on the loan are two different things. A quit claim only impacts the title (ownership) and not the debt (the loan).
What else can I help you with?
Can a spouse be added to a house deed when mortgage is in both names?
It depends on the laws of the the jurisdiction. In many cases the bank would have required this to get the mortgage. There may have been a quit claim deed filed with the mortgage.
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.
What happens if the mortgage and deed are in two names and one claims banckrupcy?
What happens if the mortgage and deed are in two names and one claims banckrupcy
What happens to you when ex wife files bankruptcy on 2nd mortgage both your names are on?
Her mortgage liability will be discharged.
What is a reverse mortgage lead?
A reverse mortgage lead is where you can get names of people that are interested in getting a reverse mortgage. These leads should already have been screened to meet the criteria for a reverse mortgage.
Can you get a second mortgage if the house is in yours and your wife's names?
Jointly
Can a lien be put on your spouses home if your names not on the mortgage?
Yes.
Can you change the names on a mortgage loan?
Not without refinancing the existing loan and changing the names on the title to the property..
If both names are on the mortgage and deed and you breakup who is responsible?
Both owners.
What are the names of some residential mortgage companies?
There are plenty of residential mortgage companies throughout the world. To list a few, Quicken Loans, Third Federal Home Loans, Residential Mortgage LLC, Chase Mortgage and the list goes on.
In Texas can a spouse whose name is on the deed and mortgage sell their house without the other spouse consent?
If both names are on the deed, then both signatures are required. If the spouse has signed a quit claim deed to the home, then the other does not need consent.
Unmarried couple both names on deeds only one pays the mortgage?
Unmarrie couple both name on deeds the mortgage is on his name
