2007-11-15 09:47:59 · 8 answers · asked by gbassgirl 1 in Business & Finance ➔ Taxes ➔ United States
The other person on the Mortg has to refinance. That is THE only way to get yourself removed. You may have to get a court order to get this person to refinance.
2007-11-15 09:50:38 · answer #1 · answered by sweet_sensation775 3 · 1⤊ 0⤋
Bad timing. You don't. The other person on the mortgage would have to refinance in their own name, so you wouldn't be on the mortgage. It would have been a real good idea to make sure that was done in conjunction with your signing the quitclaim. If the other person is reasonable and fair, maybe they'll refinance voluntarily, but otherwise you can't get off the mortgage unless the lender allows you to be removed, and that essentially never happens.
2007-11-15 20:23:31 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Hope and pray that the other person refinances the mortgage soon. There's nothing else that you can do. Your chance to force the issue died when you signed the quitclaim deed.
Next time, consult with YOUR attorney first. It's too late now to do anything. (Any chance of getting a court order forcing them to refinance is pretty much zero.)
Maybe if you offered to cover all of their closing costs on the mortgage they might be motivated to act. Barring that, you're stuck with it.
2007-11-15 18:24:53 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Assuming we understand you correctly, you are in an interesting position.
You can't get off the mortgage by yourself, but if nobody pays it, the mortgage holder's usual remedy is to foreclose. Since you don't own or use the property anymore, that would primarily effect the other person.
2007-11-16 11:38:08 · answer #4 · answered by r_kav 4 · 0⤊ 0⤋
There's no way to get removed from a mortgage debt. The only thing that can be done is for the other person to refinance.
2007-11-15 17:51:16 · answer #5 · answered by Deb S 6 · 1⤊ 0⤋
Wrong move. A quit claim deed means you release all claim to the property title. Its doesn't get you released from the loan.
2007-11-15 18:41:01 · answer #6 · answered by npk 7 · 0⤊ 0⤋
Provide a copy of the quit claim deed to the mortgage company.
2007-11-15 17:51:02 · answer #7 · answered by SmogMan 2 · 0⤊ 4⤋
No idea, but if someone knows the answer without refinancing in Indiana I hope they will share.
2007-11-15 17:51:12 · answer #8 · answered by cinderpainter 2 · 0⤊ 2⤋