Posted on: 29th Nov, 2007 06:31 pm
Post Your detailed question here.
hello dlez,
you can do a refinance after the property is quit claimed to you.
you should take the lender's consent before signing the quit claim as the transfer of ownership has to be notified to him. the new owner has to get an approval for the refinance and if he does not qualify for that, the lender might not agree to transfer the ownership rights by quit claim.
you can do a refinance after the property is quit claimed to you.
you should take the lender's consent before signing the quit claim as the transfer of ownership has to be notified to him. the new owner has to get an approval for the refinance and if he does not qualify for that, the lender might not agree to transfer the ownership rights by quit claim.
Hi Dlez,
Welcome to this forum.
If it is a mortgaged property and it is quitclaimed to you, you can refinance it to remove the grantor's name from the mortgage. Here who quitclaims the property to you is the grantor and you are the grantee. After the deed is notarized and recorded in the county recorder office, you will be the legal owner of the property. So you can refinance.
Thanks,
Larry
Welcome to this forum.
If it is a mortgaged property and it is quitclaimed to you, you can refinance it to remove the grantor's name from the mortgage. Here who quitclaims the property to you is the grantor and you are the grantee. After the deed is notarized and recorded in the county recorder office, you will be the legal owner of the property. So you can refinance.
Thanks,
Larry