Posted on: 16th Apr, 2010 05:54 am
if i signed a quit claim deed, and my name is still on the mortgage, if i file personal bankrupcy, will that remove my name from the mortgage loan? it is a joint loan and home equity line of credit.
Hi jcw,
A quitclaim deed does not release you from your mortgage liability. But if you file Chapter 7 bankruptcy and get discharged from your liability towards the mortgage, your name will be removed from the mortgage. You will no longer be personally responsible for the mortgage.
A quitclaim deed does not release you from your mortgage liability. But if you file Chapter 7 bankruptcy and get discharged from your liability towards the mortgage, your name will be removed from the mortgage. You will no longer be personally responsible for the mortgage.