Posted on: 28th Sep, 2010 04:06 pm
I live in Florida. I have a mortgage on my home. My wife and I would like to QuitClaim the property into our Living Trust. If we do that, do we have anything that we need to do with my mortage company and/or the mortgage other than the obvious which is to continue to pay the mortgage monthly on-time? Thank you.
hi rschneid,
you can place your property in a living trust though you've a mortgage on it. as far as i know, the mortgage company won't have any issues with it. however, later on, if you wish to refinance your mortgage, then you'll have to remove the property from the living trust.
thanks
you can place your property in a living trust though you've a mortgage on it. as far as i know, the mortgage company won't have any issues with it. however, later on, if you wish to refinance your mortgage, then you'll have to remove the property from the living trust.
thanks