Posted on: 23rd Dec, 2010 09:11 am
My husband purchased a mobile for which he was paying a mortgage. A few months ago he decided to "quitclaim" this property to the tenant since we could not afford to keep the property. Yesterday we received a letter from the note holder telling us that "tenant" did not pay last months mortgage payment and that he is responsible. Is this legal? Is there anything we can do at this point?
Hi ENC,
Your husband is responsible for the mortgage as the mortgage docs mention your husband as the borrower of the loan. Signing a quitclaim deed has only transferred the property to the tenant. It has not transferred the mortgage. Thus, your husband has to pay off the mortgage dues for the mobile home if the tenant has not paid it off.
Thanks
Your husband is responsible for the mortgage as the mortgage docs mention your husband as the borrower of the loan. Signing a quitclaim deed has only transferred the property to the tenant. It has not transferred the mortgage. Thus, your husband has to pay off the mortgage dues for the mobile home if the tenant has not paid it off.
Thanks
Thank you so much for your reply. I'm sorry it took so long for me to reply... I had a death in the family 12/26.
Do you have any suggestions on how to correct the situation?
Do you have any suggestions on how to correct the situation?
hi enc,
i can understand what you went through. hope the soul of your deceased family member rests in peace. amen.
as far as correcting the situation is concerned, the tenant should refinance the mortgage in his or her name and pay off the dues. unless the tenant does so, your husband will be considered responsible for the loan.
i can understand what you went through. hope the soul of your deceased family member rests in peace. amen.
as far as correcting the situation is concerned, the tenant should refinance the mortgage in his or her name and pay off the dues. unless the tenant does so, your husband will be considered responsible for the loan.