Posted on: 27th Aug, 2009 07:28 am
Can I use a quit claim of deed to modify my mortgage loan?
My ex husband does not want to sign this new loan terms...my house is pre-foreclosure status
Please advice...?
My ex husband does not want to sign this new loan terms...my house is pre-foreclosure status
Please advice...?
jlr,
welcome to the forum.
answer is no.
quit claim deed is used to transfer ownership right. it has nothing to do with mortgage.
you can ask your ex husband to quit claim deed property to you. then you can refinance the mortgage in your name.
welcome to the forum.
answer is no.
quit claim deed is used to transfer ownership right. it has nothing to do with mortgage.
you can ask your ex husband to quit claim deed property to you. then you can refinance the mortgage in your name.
Hi JLR!
Welcome to forums!
I agree with Robert. You cannot use a quitclaim deed to modify your mortgage. If your husband does not agree to the new terms of mortgage payments, then it would be difficult for you to modify the loan. You should try to convince your husband about the benefits of the repayment plan which the lender is giving you as a part of loan modification. If he is convinced, then he would definitely sign on the new loan terms.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with Robert. You cannot use a quitclaim deed to modify your mortgage. If your husband does not agree to the new terms of mortgage payments, then it would be difficult for you to modify the loan. You should try to convince your husband about the benefits of the repayment plan which the lender is giving you as a part of loan modification. If he is convinced, then he would definitely sign on the new loan terms.
Feel free to ask if you've further queries.
Sussane