Posted on: 21st Mar, 2011 07:32 am
My wife owns a home,which has been vandalised the insurance company does not want to pay the claim because the house was vacant for over 30 days.
The home would cost more to fix then it's current value.
Can we quit claim the home to the lender against the will of the lender? They have tried to sell it at auction,with no bidders.
The home would cost more to fix then it's current value.
Can we quit claim the home to the lender against the will of the lender? They have tried to sell it at auction,with no bidders.
Hi rhv!
Welcome to forums!
You can surrender the property to the lender with the help of a quitclaim deed. However, unless the property is sold off or someone assumes or refinances the loan, the mortgage will remain in your name.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can surrender the property to the lender with the help of a quitclaim deed. However, unless the property is sold off or someone assumes or refinances the loan, the mortgage will remain in your name.
Feel free to ask if you've further queries.
Sussane