about quick claim deed
about quick claim deed
ok my father passes away 4 days ago.he did a quick claim deed about 4 years ago.the question is does that make me liable if we cant make the payments. the family hopes to keep paying the loan but i dont see that working out among 6 sibsling. can i still make payments with the loan in my dads name.dont want to hurt my credit.right know we have funds for 3 months.then one of us must buy it or the bank gets it.
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Hi,
If your name is not mentioned on the mortgage docs, then you won't be liable for paying the mortgage debts. So, if you don't pay the mortgage, it won't hurt your credit score. However, if you want to save the property, then you need to pay the mortgage debts on time or else the lender will foreclose the property.
Thanks