Posted on: 30th Jan, 2011 02:03 pm
I signed a quitclaim deed with the understanding that I would be giving up all of my rights to the house but that my name would also be coming off of the loan. And, that didn't happen. Now that I've signed the quitclaim deed, how do I go about getting my name off of the loan?
hi guest,
you should ask the present owner of the property to refinance the mortgage in his or her name. this will remove your name from the mortgage docs. signing a quitclaim deed will only remove your name from the property deed. it won't remove your name from the mortgage docs.
thanks
you should ask the present owner of the property to refinance the mortgage in his or her name. this will remove your name from the mortgage docs. signing a quitclaim deed will only remove your name from the property deed. it won't remove your name from the mortgage docs.
thanks
Signing the quit claim only transferred the ownership of the house to the other party. To remove your name from the joint mortgage, the other party should refinance the mortgage under his name to modify its status from "joint" single-owner property.