Posted on: 18th Aug, 2010 09:39 am
my wife and i are getting a divorce and she is moving to europe, if she signs a quit claim deed after the settlement will this remove her from responsibility
from the mortgage balance? i hope it does because i want to retain the property but she is afraid that she can still be held liable for the debt if i were to fail to make payments?
from the mortgage balance? i hope it does because i want to retain the property but she is afraid that she can still be held liable for the debt if i were to fail to make payments?
hi jd!
welcome to forums!
a quit claim deed will remove your wife's name from the property deed but it won't release her from the mortgage unless you refinance the loan. if her name is on the mortgage docs, then the lender can contact her for the balance dues.
feel free to ask if you've further queries.
sussane
welcome to forums!
a quit claim deed will remove your wife's name from the property deed but it won't release her from the mortgage unless you refinance the loan. if her name is on the mortgage docs, then the lender can contact her for the balance dues.
feel free to ask if you've further queries.
sussane