Posted on: 24th Oct, 2007 06:10 am
we are in the process of foreclosure on our home
we where told awhile ago we can do a quit claim on the home
and sign it over to the mortgage co, is this true??
we would like to do this, esp since winter is right around the corner, the utilities are off in the house and the pipes are prob gonna freeze up, so we wanted out of it
thanks
[size=9:a3acfe26f2][color=Red:a3acfe26f2][Post converted into lowercase. Thanks.][/color:a3acfe26f2][/size:a3acfe26f2]
we where told awhile ago we can do a quit claim on the home
and sign it over to the mortgage co, is this true??
we would like to do this, esp since winter is right around the corner, the utilities are off in the house and the pipes are prob gonna freeze up, so we wanted out of it
thanks
[size=9:a3acfe26f2][color=Red:a3acfe26f2][Post converted into lowercase. Thanks.][/color:a3acfe26f2][/size:a3acfe26f2]
Hi Barb,
If you sign a quitclaim and transfer your interest to the mortgage company, you still have to pay the mortgage amount. You can go for the deed-in-lieu but signing quitclaim over to the mortgage company sounds a bit fishy to me.
Thanks,
Larry
If you sign a quitclaim and transfer your interest to the mortgage company, you still have to pay the mortgage amount. You can go for the deed-in-lieu but signing quitclaim over to the mortgage company sounds a bit fishy to me.
Thanks,
Larry