Posted on: 10th Aug, 2010 02:02 pm
My husband and I have been separated for 10 yrs. I live in MI and he lives in the house we both own in MD. He is willing to take out a loan to buy me out. My husband said the loan company told him I have to do a quitclaim deed first before they will lend him the money to pay me. The loan company said that then I wouldn't be responsible for the loan at all and the loan will be in his name only.
Does this sound right to you or is my husband trying to pull a fast one?
Does this sound right to you or is my husband trying to pull a fast one?
hi hensoo,
you can sign the quit claim deed and transfer the property to your husband at the closing. thus, you will be able to get rid of the property and the loan at the same time. once your husband refinances the loan, you won't be liable for it any longer.
thanks
you can sign the quit claim deed and transfer the property to your husband at the closing. thus, you will be able to get rid of the property and the loan at the same time. once your husband refinances the loan, you won't be liable for it any longer.
thanks