Posted on: 03rd Nov, 2010 10:07 pm
I quit deeded to my ex. She refinanced and is now in foreclosure and I was served a summons. What is my obligation/risk?
Is your name mentioned on the mortgage docs? If yes, then you're equally liable for the mortgage though you've signed the quitclaim deed and transferred the property to your ex. In that case, the foreclosure will have a negative affect on your credit scores and the lender can come after you for the balance amount resulting from the property sale.