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Old 11-05-2008, 12:20 PM
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Signed quit claim deed, now in forclosure

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


As part of a divorce settlement, I signed a quit claim deed and my ex-husband retained the house. He took out a home equity loan to pay me my share of the equity, but he never refinanced the primary mortgage we took out together. The house is now going into forclosure. Will this forclosure negatively affect my credit and can the mortgage lender legally come after me for repayment?
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Old 11-05-2008, 12:33 PM
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Join Date: Feb 2007
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The quit claim deed does nothing for getting you out of responsibility for the mortgage.

The foreclosure will destroy your credit.

They technically can come after you for the deficiency (there are some quirks in the Michigan law, but they probably won't help you).
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Old 11-05-2008, 12:42 PM
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Quote:
Originally Posted by gromit View Post
What is the name of your state (only U.S. law)? Michigan


As part of a divorce settlement, I signed a quit claim deed and my ex-husband retained the house. He took out a home equity loan to pay me my share of the equity, but he never refinanced the primary mortgage we took out together. The house is now going into forclosure. Will this forclosure negatively affect my credit and can the mortgage lender legally come after me for repayment?
**A: of course you're in deep sh*t. What were you thinking?
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