Posted on: 18th Jan, 2010 01:05 pm
I divorced my wife in 2002 and signed the house over to her so I am not on the deed anymore but I am still on the loan and it is messing up my debt to credit ratio. Does anyone know how to resolve this? The mortgage company says fill out a quick claim deed form but shouldn't that have already been done at the time of divorce?
Hi gphelps,
The quit claim deed that you signed in your wife's favor has removed your name from the property deed but not from the mortgage. In order to remove your name from the mortgage, you'll have to ask your wife to refinance the loan in her favor. Once she does so, you won't be liable for the loan.
Thanks
The quit claim deed that you signed in your wife's favor has removed your name from the property deed but not from the mortgage. In order to remove your name from the mortgage, you'll have to ask your wife to refinance the loan in her favor. Once she does so, you won't be liable for the loan.
Thanks