maybe and maybe not. frankly, there's not enough information in your query to determine the right answer. are you changing from a joint obligation to an individual obligation on the mortgage, or vice versa? was the existing mortgage granted to different person(s) than the new refinance will? if so, in either case, that's why they'd be looking for a quit claim deed - to transfer ownership from someone who's not involved any longer; or, alternatively, to transfer ownership to someone who's not been previously involved.
do either of these scenarios fit your situation?
do either of these scenarios fit your situation?
my wife and I are on present mort. want to refinance and apply for ind. loan.Leander wants quit claim deed, why?
They're not quite up on the law, it would appear. If you are simply trying to borrow on your own, with your wife remaining on title, that ought to be okay with them. She'd still have to sign the mortgage deed and she'd have rescission rights as an owner, but there's no reason she ought to have to relinquish her ownership rights. Tell them to check with their legal counsel and get back to you with better information. At the same time, it's worth your while to speak with legal counsel as well, just to be sure there's not some sort of quirky law wherever you live that allows/requires/stipulates this silliness.