hi leighrtt,
after the quit claim deed is signed and the property is transferred to the new owner, then he or she needs to refinance the mortgage in order to remove the previous owner from all the financial obligations towards the property. novation is another way of removing a person from financial obligations but lenders prefer refinance.
after the quit claim deed is signed and the property is transferred to the new owner, then he or she needs to refinance the mortgage in order to remove the previous owner from all the financial obligations towards the property. novation is another way of removing a person from financial obligations but lenders prefer refinance.