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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 37017
Experience:  Texas Attorney for 30 years dealing in real estate
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State of Michigan. My mother left me her house via quitclaim

Customer Question

State of Michigan.
My mother left me her house via quitclaim deed with mortgage in her name. She passed in 2012
My sibling were helping pay the mortgage, but my sister moved out of ststate nd my brother passed away in January.
My mother has taken several.loans on the house and the payment is out of reach for me. Not to mention, I will get nothing in return on this home. It has a huge mortgage that I can not afford.
I was recently married and my wife and I want to buy a home more affordable and something WE want. I was told by a mortgage lender I am considered a home owner because of the quitclaim deed.
There is more owed on the home than what it is worth!
How can I sign off the deed without being responsible? What are my options?
Thank you...
Greg H
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Ray replied 6 months ago.

Hi and welcome to JA. Ray here to help you tonight.

Are the mortgages here in your name or still in your mothers name??

Expert:  Ray replied 6 months ago.

If you have not assumed the mortgage, put it into your name them you have no liability here.You can quit paying and they just foreclose.You are not liable for any deficiency.

Expert:  Ray replied 6 months ago.

If this is the case you can live there until foreclosure is complete and saver your money to buy your own place.If it is underwater and you aren't on the note let it go here.

Expert:  Ray replied 6 months ago.

Please follow up I will be happy to respond, thanks.

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