Posted on: 02nd Jun, 2008 09:31 am
my husband and I are divorcing and he wants me to sign the house over to him. if we use the quitclaim deed to sign the house over to him will the mortgage still be in my name and still my responsiblity?
hi tracey.
welcome to the forum.
quitclaim deed does not transfer the mortgage. so even if you sign the quitclaim deed the mortgage will still be on your name. i think you should ask your husband to refinance the mortgage on his name only so that your name is out of the mortgage. if he agrees to refinance the mortgage on his then only you can/should quitclaim to him.
btw talk to the lender and take him confirmation before quitclaiming the property to him.
feel free to ask if you have any further questions.
best of luck,
larry
welcome to the forum.
quitclaim deed does not transfer the mortgage. so even if you sign the quitclaim deed the mortgage will still be on your name. i think you should ask your husband to refinance the mortgage on his name only so that your name is out of the mortgage. if he agrees to refinance the mortgage on his then only you can/should quitclaim to him.
btw talk to the lender and take him confirmation before quitclaiming the property to him.
feel free to ask if you have any further questions.
best of luck,
larry
Welcome Tracey.
Agree with Larry that your husband should refinance the mortgage his name to relieve you from the mortgage obligations. Otherwise you will still be liable for the mortgage and in future if you husband make late payments, then it will affect your credit report.
Let me know if you have any further questions.
Agree with Larry that your husband should refinance the mortgage his name to relieve you from the mortgage obligations. Otherwise you will still be liable for the mortgage and in future if you husband make late payments, then it will affect your credit report.
Let me know if you have any further questions.