Posted on: 02nd Aug, 2010 11:45 am
my husbands ex-wife didn't refi after their divorce. she was turned down for the new govenment housing relief program. now she is unemployed, facing forclosure, and filing bankruptcy (washington state). she is really pushing my husband to sign a quit claim, she says she is going to refi and needs it before she can do the refi's. (is that true) she now has bad credit (which has also hurt my husbands credit) and no job...so i don't thinlk she will be able to refi. i am leery of the reprocutions from him signing this, because i read it could be considered fraud if signing a quit claim less than a year before bankruptcy, and don't want us to get stuck in a $ bind when she file bankruptcy. should he sign a quit claim or not???
hi scritchy!
welcome to forums!
if your husband's ex-wife is filing bankruptcy and does not have a job, she won't be able to qualify for a refinance to remove your husband from the mortgage. rather, if the ex-wife wants, she can transfer the property to your husband who can refinance the loan in his name. then, after a year, the ex-wife can file bankruptcy.
feel free to ask if you've further queries.
sussane
welcome to forums!
if your husband's ex-wife is filing bankruptcy and does not have a job, she won't be able to qualify for a refinance to remove your husband from the mortgage. rather, if the ex-wife wants, she can transfer the property to your husband who can refinance the loan in his name. then, after a year, the ex-wife can file bankruptcy.
feel free to ask if you've further queries.
sussane