TMAN14
recently joined
Reged: 09/07/06
Posts: 22
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My lawyers will have stbx sign a deed of trust for the home that I will let stbx have, has anyone recently had this done through their divorce process, and once deed of trust is signed are you still liable for mortage and can mortage be removed from credit report?
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jaiye
old hand
Reged: 10/27/05
Posts: 860
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If you are doing a "Quit claim deed" or the "Deed of trust" you will still be on the mortgage and still liable for it. You need to make her refinance the loan before you sign the deed. Refinancing is the only way you will be able to remove your name from the loan. DO NOT sign the deed before she does the refinance!!!!!
If you sign the deed and she doesn't make the payments it will go against your credit and the mortgage company will come after you for the money. they don't care whose name is on the deed only whose name is on the loan.
Edited by jaiye (10/13/06 09:44 PM)
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