Posted on: 12th Dec, 2008 06:26 am
Hello,
I am in the process of getting out of a relationship and will like to know can i quit claim a house to someone else but keep the mortgage in my name.
Thanks,
Mildred
I am in the process of getting out of a relationship and will like to know can i quit claim a house to someone else but keep the mortgage in my name.
Thanks,
Mildred
hi mildred
as far as i know, if you quitclaim the property to someone, the lender will ask the new owner to refinance the property. this is because the lenders want that the mortgage should be in the name of the owner. moreover you should also remember that if you quitclaim the property to someone and keep the mortgage in your name, then you will have to pay the mortgage dues but you will have no interest in the property.
thanks
as far as i know, if you quitclaim the property to someone, the lender will ask the new owner to refinance the property. this is because the lenders want that the mortgage should be in the name of the owner. moreover you should also remember that if you quitclaim the property to someone and keep the mortgage in your name, then you will have to pay the mortgage dues but you will have no interest in the property.
thanks