Posted on: 04th Sep, 2009 05:57 pm
I am going through a divorce in California and I am going to leave the home to my wife. All I want is to be free and clear from the loan and i dont want it to show on my credit report at all as i would like to buy a home of my own with in one year. She wants a quit calim but I will not do it until I am sure I am free and clear. What are the options in this situation.
If the loan is not assumable, then you cannot simply transfer it to your ex wife. The answer to your question is right here...
http://www.mortgagefit.com/problems/removename-refinance.html
http://www.mortgagefit.com/problems/removename-refinance.html
you need to be careful. since your divorce is in progrss, you can get decision on property from court.
as a second option, in quit claim deed you mention a time period within which she has to get mortgage refianced otherwise deed will not be valid
as a second option, in quit claim deed you mention a time period within which she has to get mortgage refianced otherwise deed will not be valid
