Posted on: 23rd Sep, 2008 09:10 am
i am in the process of a divorce settlement. the house most likey is going to be assigned to me. currently i have a very good loan 5% fixed for 10 years under both names ( husband/myself). do i need to refinance the house?? or just ask him to quit claim me. i really don't want to refiance the house but i also would like to be protecetd . if in the future he has some financial difficulties should i be protected with the quick claim deed?
please let me know .
please let me know .
hi normajourdain!
welcome to mortgagefit forums!
signing a quitclaim deed will help you transfer the property in your name. it doesn't transfer any mortgage or liens. if the house has any mortgage, it is better to go for a refinance or novation. lenders generally prefer refinance.
hope this will help you.
thanks,
jerry
welcome to mortgagefit forums!
signing a quitclaim deed will help you transfer the property in your name. it doesn't transfer any mortgage or liens. if the house has any mortgage, it is better to go for a refinance or novation. lenders generally prefer refinance.
hope this will help you.
thanks,
jerry
Hi normajourdain!
I feel refinancing is the best option for you.
I feel refinancing is the best option for you.