Posted on: 23rd Feb, 2007 11:27 am
2 years ago, my husband signed loan papers and assumed a loan on a home. It was not his intention to keep the home but there was and still is a tenant in the home. She has filed a quitclaim deed on the property. I'm not sure how she went about it but she apparently forged his name. He wants to remove his name from the loan. Is the only way to do this selling the home or are there other options? Can he sell the home inspite of the quit claim?
your husband should contact an attorney and explain all the information to him. if you can prove that she has forged his name then she can be penalized for doing so and her quit claim deed will not have any value.
Christina, the main question is, will you be able to prove that your husband's signature was forged by her? If it can be proved then your husband will retain ownership of the house. But if it cannot be proved then she/tenant is now the owner of the house and your husband cannot sell it. As Norman said your first step should be to contact an attorney and tell him what has happened.
David
David
"He wants to remove his name from the loan."
As your husband had assumed the mortgage the original borrower is still liable for the mortgage unless the lender has agreed to release him.
Was it simple assumption or qualifying assumption?
If it was a qualifying assumption in which your credit & income status was verified by the lender then the original borrower is not liable to make the payments anymore. Otherwise you can stop making payments and the original borrower will have to continue with the payments.
But first you need to see what the court decides about the forgery that has occurred. If it is proved that forgery was done then you will retain the property.
As your husband had assumed the mortgage the original borrower is still liable for the mortgage unless the lender has agreed to release him.
Was it simple assumption or qualifying assumption?
If it was a qualifying assumption in which your credit & income status was verified by the lender then the original borrower is not liable to make the payments anymore. Otherwise you can stop making payments and the original borrower will have to continue with the payments.
But first you need to see what the court decides about the forgery that has occurred. If it is proved that forgery was done then you will retain the property.