Posted on: 20th Dec, 2010 04:42 pm
i want to remove my exhusband's name from the mortgage loan. the mortgage company has approved an assumption loan for me to be responsible. is this the same as a quit claim deed. the deed the house is already in my name.
Hi tneizer!
Welcome to forums!
Loan assumption is not similar to that of a quitclaim deed. A quitclaim deed will help you in transferring the property from one person to another whereas assumption will help you in transferring the mortgage in your name.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Loan assumption is not similar to that of a quitclaim deed. A quitclaim deed will help you in transferring the property from one person to another whereas assumption will help you in transferring the mortgage in your name.
Feel free to ask if you've further queries.
Sussane