Refinance Home When Using Quit Claim Deed
REM #F711
By Ilyce R. Glink
Summary: A reader quit claimed the deed for his home but did not refinance the loan. Now his ex-wife is late on payments and ruining his credit rating. Ilyce explains how he has very few solutions to this problem.
Q: My husband quit claim deeded his home to his ex. His name is still on the
mortgage.
She has been 30 to 60 days late on the mortgage for the last 2 1/2 years. It is ruining his credit. What can we do?
A: Not much, unfortunately, your husband made a calculated error in quitclaiming
the deed to his ex-wife without requiring her to refinance the home. Now, he
has no claim to the property but owes on the mortgage.
Your ex-husband should call his ex-wife and offer help bring her up to date
on her mortgage only if she quitclaims half the property back to him. Otherwise,
he should talk to an attorney about what, if anything, he can do at this point.
NOTE: This column is distributed by Real Estate Matters Syndicate, PO Box 366, Glencoe, Illinois, 60022. This column may not be resold, reprinted, resyndicated or redistributed without written permission from the publisher.
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