Posted on: 02nd Jan, 2009 05:37 pm
is it possible for me to do a quit claim deed to my mortgage company instead of a deed in leui of forclosure ?
Hi volpar,
Quit claim deed is used only for transferring the property from one person to another. Deed is lieu is different from quitclaim deed and is signed when you cannot pay the mortgage dues to the lender. In deed in lieu, you will have to quitclaim the property to the lender so that he can sell off the property and recover the debts.
Check out the information available here on deed in lieu and quitclaim deed.
Thanks
Quit claim deed is used only for transferring the property from one person to another. Deed is lieu is different from quitclaim deed and is signed when you cannot pay the mortgage dues to the lender. In deed in lieu, you will have to quitclaim the property to the lender so that he can sell off the property and recover the debts.
Check out the information available here on deed in lieu and quitclaim deed.
Thanks