Posted on: 10th May, 2010 06:23 am
i am taking a loan from a person and she asked me to sign a quit claim deed of my house to her in order to guarantee the loan of money she is giving me. am i going to lose any rights to my house by signing this qc deed? is there any better way to do it? an agreement between us is that i will repay the loan within 5 years including 7% interest. what is a best way to do it so i won't lose my home?
Hi Guest!
Welcome to forums!
Once you sign the quit claim deed, you will not remain the owner of the property anymore. You can contact a real estate attorney and he may help you in drafting an agreement which will help you in saving the property as well as safeguard the interest of the lender.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Once you sign the quit claim deed, you will not remain the owner of the property anymore. You can contact a real estate attorney and he may help you in drafting an agreement which will help you in saving the property as well as safeguard the interest of the lender.
Feel free to ask if you've further queries.
Sussane
In order to secure a loan with real property, the proper instrument is a "Deed of Trust".
