Posted on: 13th Oct, 2011 10:30 am
If I quick claim the deed to our home to my separted husband , I'm I still liable to the mortage company?
Hi anniemarciano!
Welcome to forums!
If your name is mentioned on the mortgage docs as one of the borrowers, then you will remain liable for the mortgage payments though you transfer the property to your husband. Unless your husband refinances the mortgage in his name, you will remain liable for the mortgage payments.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If your name is mentioned on the mortgage docs as one of the borrowers, then you will remain liable for the mortgage payments though you transfer the property to your husband. Unless your husband refinances the mortgage in his name, you will remain liable for the mortgage payments.
Feel free to ask if you've further queries.
Sussane
Hey anniemarciano,
Your husband will only be able to remove your name completely off of the mortgage by refinancing it. Re-financing the home is completely changing the terms of the mortgage and using the money from the new loan to pay off the existing loan, and thus, your name will be erased from the mortgage.
Hope this helped!
Best Regards,
Your husband will only be able to remove your name completely off of the mortgage by refinancing it. Re-financing the home is completely changing the terms of the mortgage and using the money from the new loan to pay off the existing loan, and thus, your name will be erased from the mortgage.
Hope this helped!
Best Regards,
>>I still liable to the mortage company?
Yes. And your credit will be impacted negatively if he makes a late payment, and it'll be difficult to buy your own home because you'll still be obligated to pay the/his mortgage.
Yes. And your credit will be impacted negatively if he makes a late payment, and it'll be difficult to buy your own home because you'll still be obligated to pay the/his mortgage.
