Posted on: 08th Jul, 2011 07:02 pm
I was told by my loan officer. Because I got a divorce.I needed to quitclaim my first property in order to get a refi-loan to my new home as my primary residence..My first property I'm the borrower and my ex wife is the co borrower.
hi smokeyreddragon,
if you have a mortgage on one property, there are chances that the lender may not agree to offer you a loan for some other property. it will be better if you could transfer your property to your wife and ask her to refinance it. then you can apply for a refinance for the second property.
take care
if you have a mortgage on one property, there are chances that the lender may not agree to offer you a loan for some other property. it will be better if you could transfer your property to your wife and ask her to refinance it. then you can apply for a refinance for the second property.
take care