Posted on: 30th Jun, 2010 06:52 am
I live in washington my husband is a surgeon our house is in both of our names and the loan is in both of our names. Should he quit claim so that if he ever gets sued they can't go after the house? he has to be on the loan since I am not working.
hi tross,
if your husband quit claims the property to you, then you would become the owner of the property. the lender will want you to refinance the loan in your name after the property transfer. as you do not have a job, you won't be able to refinance the loan. thus, in my opinion, it won't be a good option to transfer the property solely in your name.
thanks
if your husband quit claims the property to you, then you would become the owner of the property. the lender will want you to refinance the loan in your name after the property transfer. as you do not have a job, you won't be able to refinance the loan. thus, in my opinion, it won't be a good option to transfer the property solely in your name.
thanks
thanks sara,
Wouldn't he still be able to be on the loan if he quit claims his interest in the house or would it work to refinance with him as a cosigner making him liable for the loan?
Wouldn't he still be able to be on the loan if he quit claims his interest in the house or would it work to refinance with him as a cosigner making him liable for the loan?
hi tross!
welcome to forums!
the lender will want you to refinance the loan in your name once your husband signs the quit claim deed in your favor. this will remove him as the cosigner for the mortgage.
feel free to ask if you've further queries.
sussane
welcome to forums!
the lender will want you to refinance the loan in your name once your husband signs the quit claim deed in your favor. this will remove him as the cosigner for the mortgage.
feel free to ask if you've further queries.
sussane