Posted on: 23rd Feb, 2009 04:47 pm
if your name is not on the mortgage loan but is on the deed and you have gotten a divorce can you make her take a quit claim deed to get out from under it.
Hi BettyLinger,
Since you are on the title to the property and not on the loan, you can easily quitclaim your share of interest in the property to her. However, as you are not on the mortgage, your credit will not be affected in any way if she defaults on the mortgage, even if you remain on the title.
Thanks,
Jerry
Since you are on the title to the property and not on the loan, you can easily quitclaim your share of interest in the property to her. However, as you are not on the mortgage, your credit will not be affected in any way if she defaults on the mortgage, even if you remain on the title.
Thanks,
Jerry
you can surely use the quitclaim to get out of the deal.but i think if you are divorced then better you ask your spouse to refinance the mortgage so that you will not have any issues related to the mortgage debt and other allied consequences i.e.credit score.
Go ahead with your thoughts =) It will not affect your credit score because you are not on the note. That means you are not liable. If you only sign the deed of trust then you are not on the loan as being obligated to pay.
Don't worry about your credit score.
Don't worry about your credit score.