Posted on: 30th Dec, 2010 11:35 am
I co-signed for my daughter on her house. This was maybe 10 years ago. Now is losing the house and not making payments in time. Can I do a quit claim and get my name off this house and not have liens attached to my property if she defaults?
Welcome Lou Breaux,
You can sign a quitclaim deed but it will only remove your name from the property deed and not from the mortgage. As you're the co-signer of the mortgage, the lender will be able to come after you in order to recover his dues if your daughter does not pay it off. Your name will be removed from the mortgage only if your daughter refinances the mortgage.
You can sign a quitclaim deed but it will only remove your name from the property deed and not from the mortgage. As you're the co-signer of the mortgage, the lender will be able to come after you in order to recover his dues if your daughter does not pay it off. Your name will be removed from the mortgage only if your daughter refinances the mortgage.