Posted on: 03rd Nov, 2011 07:30 pm
would i have to sign a quit claim before refinancing to keep the home completly in my wifes name during refinancing. in others words the home was in her name before we got married. she now wants to refinance her home but she said that i need to sign a quit claim deed becuase the bank won't allow the refinance without the quit claim deed. why is this so or is it?
Hi Guest,
If you want your wife to get the whole property and mortgage, then you will have to sign the deed in her name before refinance. This will make her the sole owner of the property. In case she can't pay off the loan, it will be easier for the lender to foreclose the property if she remains the sole owner of the property.
If you want your wife to get the whole property and mortgage, then you will have to sign the deed in her name before refinance. This will make her the sole owner of the property. In case she can't pay off the loan, it will be easier for the lender to foreclose the property if she remains the sole owner of the property.