What is the procedure for taking over a mortgage after a quit claim?
104723
get a solicitor to draw up the required paperwork
1073728
Before removing your self from mortgage, why did you leave the property?\nGo to a lawyer and take his advise pronto.
227390
no they dont do that over here.you could try repossed homes
926374
one of a few ways..but I know one works\nyou have to have proof your moving out of their operating area, so as you can see, they can not serve you, so the contract has to be broken....this works...\n\ntell them you lost your job and you AVE to cut back on ALL things....period..no money to pay..\n\ngood luck\nsmile
752838
Assuming the following facts:\n\n1) You were the owner and had a mortgage.\n2) You sold the property to another individual on either an assumable mortgage, or with your mortgage company's permission "transferred" the loan to the current owner.\n3) The new owner failed to pay.\n\nIf the loan was assumable, depending on your mortgage company and how long the new owner has been paying, you might or might not be responsible for the loan.\n\nIf the loan was "transferred", based on the new owner's ability to get a loan on their own credit, you might not be responsible for the loan.\n\nHard to know without knowing the whole story and checking with your original mortgage company.
773401
Yes there are.\n\nThere are mortgage product available for owner who just received a "notice of Default".\n\nIf however the bank or lender repossesed the property or it was sold in an auction you would have to come up with private funds to redeem your property back.\n\nIf you are in California and need assistance in foreclosure bailout loans we can help\n\nRommel Mijares\nMortgage Specialist
1032223
It's a "Quit Claim" and it's a type of deed.  By signing a quit claim deed you are transferring ownership of the property to your boyfriend.  I strongly recommend that you NOT do this without speaking with a real estate attorney and making yourself completely aware of what can happen.  \n\nAnd by the way, your boyfriend does not need to be listed as an owner of your property in order to be a co-signor on your loan.  Find yourself a new mortgage advisor.  A good start is speaking with a loan officer at the bank where you do most of your banking.
580779
YES.\nI owned a home with my ex and I had to refinance and he had to sign a "Quit Claim Deed" which basically allowed me to re-finance without him.  If you do not refinance, then your current lender still thinks you both owe them regardless of your marital status.
989388
You need to go pronto right now {{{with the person you bought it from}}}  to a LAND TITLE COMPANY. Look in the phone book. \n\nThat should have been done when/before you handed the money over.. HURRY!!!! I would demand it NOW.... If he doesn`t show or disappears you just gave him your money and you own NOTHING...  \n\nYou should get a *warranty deed* and nothing else.. Do not accept a Quit Claim Deed. Some years from now on down the road, Some owner in the past can show up with DEED and take it from you... \n\nThere will be some closing costs.. I don`t know how much, But until you have that deed in YOUR name YOU  DO NOT OWN THAT LAND... Right now he has the money and the land.. \n\nWhat ever papers you may have mean very little without that DEED... I worked for a man and he had lived in his home for five years, made major improvements and such, Well he had all his paperwork but no deed. They took his property from him and made him leave whatever improvements he had made. Central air and such.. He got nothing and had paid that man for 5 years... \n\nGood luck and God bless,{:-)\n\n<><
941964
A quit claim deed does not remove any sort of financial obligations. All that it does is state that you are giving up your right to make a "claim" against the property. If you were on the Note and the Mortgage/Deed of Trust, you are still responsible for that payment. As someone else already stated, make sure to get your name off of any utilities as well. \n\nUnfortunately, there isn't a quick fix to remove your name from the Mortgage/Deed of Trust. There are a few ways to go about it. As someone suggested, you can go to court to be absolved. Your partner can refinance the home on his/her own. Or (if the lender is willing) your partner could do what is called a "simple assumption". Basically, that means that the terms of the note stay the same, but your partner assumes sole responsibility. That will totally depend on your lender. Good luck, I hope this works out for you.
289850
To be honest, she's fortunate they have given her this long.  My bank would have already foreclosed, sold, and filed it away.  I want to help you out of the predicament, so here's what you need to do:\n\nFirst, ensure that your friend goes to her bank ASAP.  She needs to ensure they know that she is ready and willing to work with them on bringing the arrears up to date.  She should ask specifically if they are willing to stop foreclosure if she gives a concrete plan.  If so, then she needs to outline to the bank exactly how she plans on bringing it up-to-date, with specific payment dates and a specific completion date.  She should review this with you and any other people who are helping her out, to ensure that it is realistic.  This shows the bank that she's serious about resolving the situation.\n\nOnce the bank has outlined this, you and your friend have to ensure that timeline is met.  Even being one day off can upset a banker that was previously willing to work with you.  \n\nForeclosure is an expensive process, but it is worthwhile for the bank because the value of the home usually greatly exceeds the value of the loan.  After the mortgage loan is paid off, the remainder of the funds are applied to legal costs, which can be quite substantial.  Your friend will likely have to pay for any legal fees that have been incurred... but the cost of that is far outweighed by the value of keeping her house!  \n\nGood luck!
392496
Go to court house and ask for deparment that handles foreclosures, they can help you.
246277
Either go to a lawyer or there are some really good software programs that lead you through it step by step.  Unless you are ROLLING in money, it is easy enough to do yourself.
471022
The easiest and most inexpensive thing to do is to put one of the children (you or one of your siblings that you can trust) on the title with your father.  You do this with a Quit Claim Deed.  Most title companies will do this for $50 to $100.  This way, if he passes, the house will not go into probate and be a huge mess.
1122696
Ouch! \n\nI think that since you have already made a final settlement that she would not be allowed to come back at you for any more money. Also if her name is no longer on the mortgage documents then she should have no claim on the property. \n\nI would definately check with your solicitor before selling the house - after all if all it means is waiting a couple of months for the divorce to be final before selling and therefore not having to share the payment for the house it would be better.
34495
Take out a loan at your bank (or a second mortgage).
769979
Interesting.\nIn the states, we call it a "Quit Claim Deed". It's a simple document and it just needs to be notarized and recorded by the county in which the home is located.