Posted on: 07th Jan, 2007 08:32 pm
in february of 2006 i signed a quit claim giving my ex-fiance all of the legal rights and equity in our home. when i moved out of the home i was in a lot of emotional distress and assumed that by signing the quit claim i would no longer be financially responsible. i am still on the mortgage. we both had excellent credit so we were able to get a great finance rate. he refuses to refinance and is self employed. is there anything that i can do to get out of the loan? he is currently paying the mortgage on time and has been for the last year. what are my options if any? i have heard that bankrupcy is my only option or hope he sells or refinances some day.
Mechamcourtney, you will get the answer to your query at http://www.mortgagefit.com/predeal/refinance-bankruptcy.html .
courtney, quit claim deed can not be used to transfer mortgage to someone else; it can only be used in changing property ownership rights. and bankruptcy has very bad affect on credit profile, so it should always be the last option to choose.
john cameron
john cameron