Posted on: 04th Mar, 2010 07:32 am
will a quit claim deed help me in any way as a co-borrower on a mortgage loan that is going to short sale or foreclosure? we refianced the home before we were married, then got married now are divorced. thanks
Hi pattybtobin,
A quit claim deed will only help you in removing your name from the property deed. It won't help you in removing your name from the mortgage. You would still be responsible for the loan and your credit will get affected in case of a short sale/foreclosure.
Thanks
A quit claim deed will only help you in removing your name from the property deed. It won't help you in removing your name from the mortgage. You would still be responsible for the loan and your credit will get affected in case of a short sale/foreclosure.
Thanks