J
jetsback
Guest
What is the name of your state? Washington
My wife and I will be getting a divorce of which has not been filed yet (we currently live apart). She is currently in the process of refinancing our home (as a happy couple) to pay off our debt first, then she requests that I quitclaim the property over to her. I have two questions... first, are there any disadvantages to me for refinancing in both our names BEFORE the divorce? She says she alone would not qualify. I am concerned the mortgage company will not relinquish me of responsibility of repayment and/or honor a quitclaim. Second, I read somewhere that a quitclaim only conveys ownership rights and will NOT end an obligation to re-pay the loan. Does that mean both of us or just my soon to be ex-wife? Thanks in advance!
My wife and I will be getting a divorce of which has not been filed yet (we currently live apart). She is currently in the process of refinancing our home (as a happy couple) to pay off our debt first, then she requests that I quitclaim the property over to her. I have two questions... first, are there any disadvantages to me for refinancing in both our names BEFORE the divorce? She says she alone would not qualify. I am concerned the mortgage company will not relinquish me of responsibility of repayment and/or honor a quitclaim. Second, I read somewhere that a quitclaim only conveys ownership rights and will NOT end an obligation to re-pay the loan. Does that mean both of us or just my soon to be ex-wife? Thanks in advance!