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Updated over 3 years ago on . Most recent reply

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2
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0
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Teresa K Sibert
  • Homeowner
  • Wooster, OH
0
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2
Posts

Can lender recall mortgage because of quit claim deed

Teresa K Sibert
  • Homeowner
  • Wooster, OH
Posted

I am in the process of buying a new home. In order to raise the down payment I am selling the home that I co-own with my brother. He is currently incarcerated, and there is a trust (which actually owns his half). The mortgage company for the new purchase does not want a trust listed on the title, though the mortgage is only in my name. We are considering going through with the purchase, and following that completing a quit claim deed that would include the trust. Can the lender then call the mortgage due in full> Any feedback is helpful. Thanks!

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