Posted on: 31st Jul, 2008 01:53 pm
can a person quit claim property if the house just went into foreclosure if so what is the steps to complete this transaction
Well, you can but it's kind of a moot point. It will still go to foreclosure regardless of who's name is on title. The county trustee will still auction it.
Hi Guest.
Welcome to the forum.
You should not quitclaim before foreclosure. That will make the case worse and complicated. Why do you want to quitclaim when the property is going for foreclosure?
Even you quitclaim the property to anyone you will also remain on the mortgage and after foreclosure you credit will be affected. So better contact with the lender and check what are the options available for you to avoid foreclosure.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
You should not quitclaim before foreclosure. That will make the case worse and complicated. Why do you want to quitclaim when the property is going for foreclosure?
Even you quitclaim the property to anyone you will also remain on the mortgage and after foreclosure you credit will be affected. So better contact with the lender and check what are the options available for you to avoid foreclosure.
Feel free to ask if you have any further questions.
Best of luck,
Larry
