Posted on: 16th May, 2006 02:37 pm
My husband and I are both on the title of our home. My husband is the only one on the mortage loan. I have several unsecured debts in my name only that I'm trying to set up payment plans with because I'm behind. I want to be proactive, in case one of the creditors decides not to work with me and trys to put a lien on our home. The are no liens on the home at this time. I'm willing to sign a quickclaim deed. Will this protect my home from the creditors if I sign and will this take my name off of the title? Does my husband have to know I signed a quickclaim deed? He does not know about the debts and I want to get them paid off, but it is going to take me time. Thanks
Patti Pyoi,
He is probably wanting you to refinance the mortgage if it is in his name. This is very common when it comes to quit claiming interest in a home. The party remaining in the home should refinance the mortgage into just their name only to release the other party of the debt obligation. Rates are good right now so it could be a good time to do so. With good credit you shoud be able to get a 5.50% fixed rate on a 30 year mortgage.
He is probably wanting you to refinance the mortgage if it is in his name. This is very common when it comes to quit claiming interest in a home. The party remaining in the home should refinance the mortgage into just their name only to release the other party of the debt obligation. Rates are good right now so it could be a good time to do so. With good credit you shoud be able to get a 5.50% fixed rate on a 30 year mortgage.
from IL. a siblings name, along with my mother's name is on a paid mortgage..mother paid 95% of mortage..including insurance and taxes..she was in debt..quit claimed to sibling..she passed away..in her original will (before quit claim) willed that her debts be paid and the remaining personal and real property be shared among the remaining four siblings..some personal property has been distributed,although sibling who accepted quit claim has full possession of real property, claiming she has no estate and is insolvent...is this legal?
Hi kree,
Welcome to the forum.
Your mother has quitclaimed a property to one of your sibling, right. So he is the owner of that property. But if you mother had any other piece of real estate property, that should be distributed among all of the siblings.
Feel free to ask if you have any further questions.
Best of luck.
Welcome to the forum.
Your mother has quitclaimed a property to one of your sibling, right. So he is the owner of that property. But if you mother had any other piece of real estate property, that should be distributed among all of the siblings.
Feel free to ask if you have any further questions.
Best of luck.
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