Posted on: 30th Mar, 2010 11:32 am
i just got divorced and currently living with ex wife til house sells..with the market the way it is could mean that we could potentially be living together for a very long time.we had just purchased the house unfortunately..but anyways, she has agreed to move out as long as she is not financially obligated to the mortgage payment. Can a quitclaim be the solution to our peoblem?
Welcome leo,
Signing a quit claim deed will not remove your ex-wife from the mortgage. It can only remove her from the property deed. You will have to refinance the loan in your name in order to release her from the liability of paying off the mortgage dues.
Signing a quit claim deed will not remove your ex-wife from the mortgage. It can only remove her from the property deed. You will have to refinance the loan in your name in order to release her from the liability of paying off the mortgage dues.