All Posts Tagged With: "quitclaim"
How To Get A Successful Loan Modification (With Obama Update)
Is it possible to get a mortgage modification without being foreclosed or behind on your payments? For an increasing number of borrowers the answer is “yes” because recent changes in the mortgage industry now make loan modifications more likely than at any point since the financial meltdown began.
For much of human history mortgage lenders have [...]
What is a “quitclaim” deed?
A quitclaim deed is evidence that whatever rights someone has to a given property have been given to someone else.
For instance, I can give you a quitclaim deed to the Brooklyn Bridge. This means all my claims and rights to the bridge now belong to you. Don’t celebrate — I have no claims or [...]
Will a quitclaim deed end my obligation to re-pay a loan?
In general terms, a quitclaim deed is a device used to transfer title without guarantees.
However, if Smith owes $100,000 to a lender and transfers title to Brown with a quitclaim deed, Smith’s obligation to the lender does not end. Smith still owes $100,000 — but now Smith no longer has title to the property. [...]
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