Posted on: 08th Feb, 2011 05:49 pm
My ex husband is going through a short sale on a home we purchased together. He is telling me that by signing a quit claim form I will not be responsible for remaining debt and he will. Is this correct? will this release me from the debt owed and not affect me financially or my credit?
Hi Guest,
Signing a quitclaim deed will only remove you from the property deed. It won't remove you from the mortgage. You will be liable for mortgage dues though you quitclaim the property to him.
Thanks
Signing a quitclaim deed will only remove you from the property deed. It won't remove you from the mortgage. You will be liable for mortgage dues though you quitclaim the property to him.
Thanks