Posted on: 20th Aug, 2010 01:36 pm
I am the borrower on a home loan and 2nd mortage. My husband is co-borrower. We are getting divorced and he wants me to sign a quit claim and allow him to continue making monthly payments. Does a quit claim remove me from being financially responsile for the loans?
no it does not. you will have to make him refinance so the mortgage is solely in his name alone. the only thing a quit claim deed does is take away your ownership right, you will still owe the money but no longer have any rights to the property.