Posted on: 30th Jun, 2009 12:06 pm
after my divorce we were unable to refinance our house. my ex has been living there and paying the mortgage until recently. now he is 2 months behind. the bank won't work with him and now he may get forclosed and may file bankruptcy. is it too late for me to file a quitclaim deed? will it help at all? what is my best often to hurt my credit the least?
Hi skiptomalo,
If your name is on the mortgage, then filing a quitclaim deed will not help you in any way. It will only help you in transferring the property in your ex-husband's name. It won't transfer the mortgage.
Rather than going for a foreclosure, it would be better if your ex can contact the lender and apply for a loan modification. This will help him in saving the property.
If your name is on the mortgage, then filing a quitclaim deed will not help you in any way. It will only help you in transferring the property in your ex-husband's name. It won't transfer the mortgage.
Rather than going for a foreclosure, it would be better if your ex can contact the lender and apply for a loan modification. This will help him in saving the property.