Posted on: 10th Sep, 2009 03:01 pm
my husband and i signed a quit claim deed to have him removed from the title. if i miss a payment, will the mortgage company report the late payment on his credit report?...my husband and i are really having a hard time financially; my work has been cut (i am receiving less than 1/3 of my pay), and we just can't make the mortgage payment this month and possibly even next month. we did not want both of our credit to be ruined, so we signed a quitclaim deed to remove his name from the title. as of the end of last month, our mortgage was replaced by a new mortgage company. i wanted to know if the late payment will reflect on my husband's credit report (is the quitclaim deed enough to avoid this), and if so, is there anything we can transfer all debt/liability to me?
Your mortgage is on husband's name so his credit score is defenately affected