Posted on: 05th May, 2009 07:16 am
in my divorce it was ordered that my ex spouse`s name be removed from the deed. when i talked to the finance company they refused and said the only way it can be removed is to refinance. i can`t do this because of my finincal situation. does the quit claim overide the companys policy?
Hi Jimmy,
Welcome to our forum
"In my divorce it was ordered that my ex spouse`s name be removed from the deed. When I talked to the finance company they refused and said the only way it can be removed is to refinance. I can`t do this because of my finincal situation. Does the Quit Claim overide the companys policy?"
Yes, In my opinion quit claim deed is best option to solve your issue. by quit claim deed you can remove your ex spouse's name from deed easily. But you must have to refinance your mortgage.
Thanks & Regards.
Welcome to our forum
"In my divorce it was ordered that my ex spouse`s name be removed from the deed. When I talked to the finance company they refused and said the only way it can be removed is to refinance. I can`t do this because of my finincal situation. Does the Quit Claim overide the companys policy?"
Yes, In my opinion quit claim deed is best option to solve your issue. by quit claim deed you can remove your ex spouse's name from deed easily. But you must have to refinance your mortgage.
Thanks & Regards.
that wasn't an answer to your question, jimmy.
a quit claim deed has no relevance to a lender. it's not a company "policy," but instead it is law. if you sign a note, you sign a note. a name cannot be removed from a note. a refinance creates a whole new loan, and in that way the old note would be negated.
a quit claim deed has no relevance to a lender. it's not a company "policy," but instead it is law. if you sign a note, you sign a note. a name cannot be removed from a note. a refinance creates a whole new loan, and in that way the old note would be negated.
