Can the quit claim deed work?

my husband co-signed for our son on his first house. he is not making payments and when he is they are late. it took us 30 years to get excellent credit and within just a few years, our son has our credit to below average. i did not want to sign with him and made husband and son sign a "quit claim deed". can we use this to get the property in our name and then he can rent from us. atleast then, we know that the bills are being paid for and/or not being late. any suggestions, besides divorce..... :? thank you, my boys :x