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KimberlyLaw
KimberlyLaw, Attorney and Real Estate Broker
Category: Real Estate Law
Satisfied Customers: 4217
Experience:  13 years of experience in real estate law: Foreclosures, Landlord-Tenant, Condo/Coop, Property Law, Deeds, Purchases/Sales, Estates.
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In my divorce, my ex-husband did a quick claim deed and

Customer Question

In my divorce, my ex-husband did a quick claim deed and deeded me the house but his name is ***** ***** one on the mortgage. He don't want his name on the mortgage anymore and I can't refinance until 2017 because I filed bankruptcy in 2015 and got to wait 2 years so he's got an appointment with the lender which is Bank of America. He told me that they are going to sell the house. Is that possible
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  KimberlyLaw replied 1 year ago.

Hello, I am happy to assist you today.

Well unfortunately the way this works is that once the quit claim deed was created and filed by your husband, it violated the terms of the mortgage and the bank is now allowed to foreclose.

The reason for this is that the bank must have the owner of the title on the mortgage. Your husband can't be on the mortgage if he is not an owner. So that is the issue. The bank does not have the property secured by the mortgage properly, so they can foreclose.

I believe that you don't have to wait 2 years to get on the mortgage. You should be able to find a bank that will issue you a mortgage despite the bankruptcy. If not, I advise you to do a private agreement with him in writing where you have him put his name back on the deed, so that he can stay on the mortgage, and then in 2017 he agrees to get off of the deed and let you refinance the mortgage in your name when you can. The agreement can also state that he only has like 1% interest in the property, or something very small, so that no matter what, you still protect your interest in the property.

Let me know if you have any questions.

Kim

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