Posted on: 13th Dec, 2010 02:21 pm
If someone quit claims thier deed to their home...can the person with the deed put a new loan on the house?
Hi Guest!
Welcome to forums!
Once the property is transferred to the new owner, he or she will be able to take out a mortgage on that property. However, if there is an existing mortgage on the property, then the lenders may not be ready to give him/her a loan unless the existing mortgage is paid off.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Once the property is transferred to the new owner, he or she will be able to take out a mortgage on that property. However, if there is an existing mortgage on the property, then the lenders may not be ready to give him/her a loan unless the existing mortgage is paid off.
Feel free to ask if you've further queries.
Sussane