I live in GA and have an ex-wife in FL. We purchased a home together and I quit claimed it to her upon the divorce. She has stopped making payments and I was served foreclosure papers tonight. What is my risk and what do I do now.
ANSWERS: 1
Sort by: Highest Rated
-
A quit claim on a home only releases the deed, it does not affect the mortgage. The only way to get released from the loan is to get a release from the loan company, or refinance the loan. Since you did not get that release, you are as responsible for the entire remaining balance, even though you do not have any ownership interest in the house. -
No comments
RELATED QUESTIONS
RELATED TOPICS
ABOUT ANSWERBAG
Answerbag wants to provide a service to people looking for answers and a good conversation. Ask away and we will do our best to answer or find someone who can.We try to vet our answers to get you the most acurate answers.
Copyright 2023, Wired Ivy, LLC

by