Does Signing A Quitclaim Release You From Your Mortgage?

When getting a divorce and signing a quitclaim deed, it’s crucial to remember your home mortgage is separate from your property title. So if a spouse is ordered to sign a quitclaim deed as a part of a divorce, he or she would be well-advised to ensure that his or her name is also removed from the mortgage documents. A mortgage lender in pursuit of repayment won’t forgive a debt just on the basis of a quitclaim deed. In other words, the spouse giving up ownership in the home could still end up having to pay for it. I’ve got some good suggestions on how to resolve this dilemma on today’s Real Estate Minute. If you haven’t already, be sure subscribe to my YouTube channel for the latest real estate tips and news: http://www.youtube.com/subscription_center?add_user=expertrealestatetips Looking for more of my real estate and personal finance tips? Read my blog: http://thinkglink.com See my tweets: http://www.twitter.com/glink Follow me on Facebook: http://www.facebook.com/ilyceglink