Posted on: 13th May, 2009 02:32 am
my husbands sister wants to give us her house in the form of quick claim deed. My husband and I both have very bad credit. Do we have to get a loan from the bank or is the quick deed all that is needed.
hi revivol
if your husband's sister just wants to transfer the property to you, then the quitclaim deed is all that is needed. however, if there is a mortgage on the property and if she wants you to refinance it, then the question of loan arises. it will be difficult for you to refinance the property with a bad credit.
thanks.
if your husband's sister just wants to transfer the property to you, then the quitclaim deed is all that is needed. however, if there is a mortgage on the property and if she wants you to refinance it, then the question of loan arises. it will be difficult for you to refinance the property with a bad credit.
thanks.