GeorgeMiami
recently joined
Reged: 07/09/07
Posts: 1
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I have signed a Quick End Deed when my wife an I purchased a home one year ago, in this way, I gave her all my rights of the home. She is the only one in the loan. We have been separated and actualy in the process for getting divorce since 3 months ago. She hasn't paid for the mortgage and the house is about to be foreclosured. I can save the house from foreclosure but I need to withdraw the Quick End Deed, there is any legal way for me to do so?
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Goodmom
Pooh-Bah
Reged: 06/17/07
Posts: 2003
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[quote]I have signed a Quick End Deed when my wife an I purchased a home one year ago, in this way, I gave her all my rights of the home. She is the only one in the loan. We have been separated and actualy in the process for getting divorce since 3 months ago. She hasn't paid for the mortgage and the house is about to be foreclosured. I can save the house from foreclosure but I need to withdraw the Quick End Deed, there is any legal way for me to do so? [/quote]
Withdrawing the quick end deed isn't going to take away her right to half of the equity. It is a marital home. It was bought while you were married. The mortgage is in her name only. It is clearly a marital asset. And even if the mortgage is just in her name, you are just as responsible for the mortgage as she is.
Her lack of paying the mortgage could have something to do with your lack of paying your share of the mortgage while the settlement is being worked out.
Discuss the issue with your attorney.
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Redlegg
Carpal \'Tunnel
Reged: 10/05/06
Posts: 26677
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Wouldn't withdrawing the quit claim deed actually cut her entitlement to the equity in the home back to 50% instead of the 100% she has now since he already signed the quit claim deed. I am thinking he doesn't want to pay for something he has no interest in, and if he were to pay, how does he restablish his interest.
I would talk to a lawyer and see what can be done, and of course talk to her and see what she is willing to do to save the house.
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matilda
Pooh-Bah
Reged: 11/11/04
Posts: 2087
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Your STBX wife would have to want your help. A foreclosure would have a huge negative impact on her credit rating. Have you called/send a letter her to offer some type of arrangement? I think a letter might be a better idea so that she can't go into court later on and insinuate you wouldn't help her financiallyto gain sympathy. I would definitely consult with an attorney.
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Goodmom
Pooh-Bah
Reged: 06/17/07
Posts: 2003
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[quote]Wouldn't withdrawing the quit claim deed actually cut her entitlement to the equity in the home back to 50% instead of the 100% she has now since he already signed the quit claim deed. I am thinking he doesn't want to pay for something he has no interest in, and if he were to pay, how does he restablish his interest.
I would talk to a lawyer and see what can be done, and of course talk to her and see what she is willing to do to save the house. [/quote]
That's a question for the lawyer. I misread, I thought he just added the wife's name to the deed.
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