QUESTION
How does one go about getting his name removed from a mortgage? Does a quick claim deed do this?
Asked on May 17th, 2016 on Real Estate - New York
More details to this question:
In a divorce settlement the wife was given a home which is now headed for foreclosure. Although the husband is handling his own finances in addition to alimony and child support, this pending foreclosure is ruining his credit. He has been advised to file a quick claim deed to have his name removed. Does this remove his name from the deed only or will it remove it from the mortgage too?
1 ANSWER
1 Award
Only removes from the deed. Only the bank can remove from the mortgage, and the bank will do so if the wife seeks a modification. But, it is complicated and the wife should have a lawyer.
Answered on May 22nd, 2016 at 3:07 PM