Posted on: 31st Jan, 2008 06:32 pm
i refinanced my house and was informed to sign a quit claim deed. was that necessary and can it be changed to a warranty deed now?
I refinanced my house and did a quit claim at closing. Will that make a difference if I am still paying a mortgage?
Hi Phil,
Welcome to the forums.
Since you have refinanced, it means you have taken a new loan to pay off your existing loan. So you will have to continue paying for the new loan.
The quitclaim deed was used to add you to the title as because probably you were not on the title. Is that so?
Once you have signed the quitclaim deed, there's no need to change it now and you will not be allowed to change the deed also. Moreover, a warranty deed will not be applicable here as your title is not free - there's still a mortgage debt against your home.
Take Care
Welcome to the forums.
Since you have refinanced, it means you have taken a new loan to pay off your existing loan. So you will have to continue paying for the new loan.
The quitclaim deed was used to add you to the title as because probably you were not on the title. Is that so?
Once you have signed the quitclaim deed, there's no need to change it now and you will not be allowed to change the deed also. Moreover, a warranty deed will not be applicable here as your title is not free - there's still a mortgage debt against your home.
Take Care
phil - who is it that advised you to sign a quit-claim deed? i hope it was your attorney, as anyone else may not have been looking out for your best interests.
we truly need a bit more information before we could address your question specifically.
we truly need a bit more information before we could address your question specifically.
