Posted on: 26th Jan, 2010 04:53 pm
hello, my wife and i currently have a living trust with our home part of that trust. we would like to refinance our home but the lenders, our current lenders as well indicate that our home in order to qualify for this no closing cost loan can not be in a trust. they recommend to take it out of the trust for 30 -45 days for the loan to be closed and then put it back into the trust once the loan is finaled/closed. is the quit claim deed the best approach for such a relatively short term situation? our state is california. thank you
Hi joejive,
As far as I know, you will have to file an amendment in order to remove your property from the trust. When the loan is closed, you can again put the property back into the trust. Contact a real estate attorney and he would help you in this regard.
Thanks
As far as I know, you will have to file an amendment in order to remove your property from the trust. When the loan is closed, you can again put the property back into the trust. Contact a real estate attorney and he would help you in this regard.
Thanks