Quit Claim before default

12-11-2008, 03:42 PM

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Join Date: Feb 2008

Posts: 1

Quit Claim before default

What is the name of your state (only U.S. law)? MI

I have never been so depressed. My spouse owns 3 investment properties in Michigan that he wants to let go to foreclosure. They are only mortgaged in his name. He has a property in Michigan that is free and clear ( it is his families home) He wants to protect that. Can he deed it to me? He has never been late yet. We do not want them coming after the property. his disabled brother lives there. Or can he deed it to me as Joint Tenancy by Entireties? Would that protect us from a deficiency balance? I also have money in the bank with him. Can I just go take that out? I am afraid they are going to take my life savings and we can no longer aford the rental properties. Please Advise.

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