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Updated about 2 years ago on . Most recent reply

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5
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1
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Terry M Jordan
1
Votes |
5
Posts

Quit claim to get off of mortgage?

Terry M Jordan
Posted

Hello and thanks in advance these forums have been a big help. My brother went through a divorce and the ex wife got the house. Shes been ordered to pay the mortgage and refi into her name by 2032. How can he get himself off of the mortgage before then? The reason hes worried about it is the mortgage is 3 months behind and hes trying to repair his credit. It could possibly end up being foreclosed.  This is wording from the order:


Defendant shall sign a general warranty deed conveying his interest to Plaintiff. That Plaintiff shall be solely responsible for the mortgage on the residence and shall hold Defendant harmless and indemnify Defendant for the payment of the mortgage. Plaintiff shall have until December 31, 2032 to refinance the mortgage on the martial residence to have Defendant’s name removed.

Most Popular Reply

User Stats

238
Posts
156
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John Slater
  • Real Estate Coach
  • Riverside County, CA
156
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238
Posts
John Slater
  • Real Estate Coach
  • Riverside County, CA
Replied

Hi, Do they have equity in the house?

It seems like she doesn't seem to care much about it the house, but now she owns the house herself, while she might not be caring to pay the mortgage, or can't pay, if she has equity maybe she'd be interested in selling to save her equity.... and if she sold it, your brother would be relieved of the mortgage responsibility.  Do you know an agent that knows about foreclosure who might reach out?.. just a thought.

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