Posted on: 12th May, 2009 02:23 pm
I have a rental which worth half of the mortgage. Can I file a quick claim form and return the property to the bank? form
Can I file a Quick Claim form and give the home back to the bank?
Hi Majid and m.yasaie
You cannot simply file a quitclaim deed and transfer the property to the bank. If you are facing hardship, then you will have to inform the lender about it and apply for a loan modification or short sale. If the lender accepts your short sale request, then you can transfer the property to him.
Thanks.
You cannot simply file a quitclaim deed and transfer the property to the bank. If you are facing hardship, then you will have to inform the lender about it and apply for a loan modification or short sale. If the lender accepts your short sale request, then you can transfer the property to him.
Thanks.