Posted on: 02nd Oct, 2009 12:29 pm
let me ask another question. i got the house due to a divorce. x is still on the mortgage. (we had two homes both financed together). he got extermley far behind in his mortgage payments and it caused my credit to go to ****, and because of that boa will not work with me. can i quit claim deed the house back to him?
i'm not sure boa will work with me on deed in lieu forclosure. if they won't i still need to find an option to get my name off the deed...i'll deal with the mortgage companies in bankruptcy court at a later date.
i'm not sure boa will work with me on deed in lieu forclosure. if they won't i still need to find an option to get my name off the deed...i'll deal with the mortgage companies in bankruptcy court at a later date.
Hi Rae,
If you ex-husband is ready to accept the property, then you can definitely sign a quitclaim deed and transfer the property to him. However, if your name is on the mortgage docs, you would still be responsible for the payments though you quitclaim the property to him. But, it would always be a better option if you can contact your lender and apply for a deed in lieu of foreclosure. You can negotiate with the lender so that he accepts your offer. Thus, you won't have to file for bankruptcy.
Thanks
If you ex-husband is ready to accept the property, then you can definitely sign a quitclaim deed and transfer the property to him. However, if your name is on the mortgage docs, you would still be responsible for the payments though you quitclaim the property to him. But, it would always be a better option if you can contact your lender and apply for a deed in lieu of foreclosure. You can negotiate with the lender so that he accepts your offer. Thus, you won't have to file for bankruptcy.
Thanks
There is no point in signing quit claim deed back to your Ex. your name is still on mortgage.
from your question, it seems that no one would be able to continue to pay monthly charges.
so try to sell or go for DIL
from your question, it seems that no one would be able to continue to pay monthly charges.
so try to sell or go for DIL
Youc an alwsy do quit claim deed but you are still laible to pay the loan if your name is on the loan
"You got house due to divorce" it also means that you are answerable for Monthly Mortgage payments. not your Ex
Now it is upto Your Ex. & chances that he will be ready is very less.
Better you try for DIL or sell
Now it is upto Your Ex. & chances that he will be ready is very less.
Better you try for DIL or sell
i'm fully aware that x & i are both responsible for all mortgages regardless of deed title. due to the divorce we will be in forclosure on both houses. his problem, he created it. the only reason i want to deed it back to him is so the city / county will be on him for the maintence of the property not me. i am speaking with boa in regards to the dil, but they are not being very cooperative. it is impossible to communicate with someone in india who can't speak english or even understand me.
i'm walking away from the house, they can forclose...and yes i will probably end up filing bankruptcy to protect myself.
i'm walking away from the house, they can forclose...and yes i will probably end up filing bankruptcy to protect myself.
you have one option. discuss it with your Ex. May be both together can work it out. & resolve the problem.
alone it is not possible. & you do not have any option but to go for forecosure or Short Sale
alone it is not possible. & you do not have any option but to go for forecosure or Short Sale