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I own a home with my ex-boyfriend. He is refinancing the mortgage into his name only.

I own a home with my ex-boyfriend. He is refinancing the mortgage into his name only. I just recieved the Quitclaim document from the person refinancing his loan. They want me to sign the Quitclaim Deed and mail it when notarized, the loan closing is tomorrow.

How do I know if my name is really being removed from the mortgage and if I am completely free of all responibilities of this mortgage?

Also, what comes first the loan refinancing or the Quitclaim Deed?

Thank you,

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November 28 2012 - US
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Answers (6)

What is the ultimate goal here ?  To get your name off the loan?  Do you still hold interest in the property ?  If so ,   you should be able to stay off the loan , but on the deed .  Depends on what you are trying to do .
Hope this helps !!!
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November 29 2012
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Is it worth it to pay a lawyer to go over the papaerwork before I sign anything?
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November 29 2012
Well, if you sign the deed and mail it tomorrow, the loan won't close tomorrow. The deed has to be recorded at the same time as the loan documents.

A few weeks after closing, you will receive a Reconveyance Deed affirming that the old mortgage has been paid off and you are free of any responsibilities to that mortgage.

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November 28 2012
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Does the Quitclaim Deed need to be filed before the refinance is complete? Is it possible for the Quitclaim Deed to be filed and the refinance not got through? Also, it is a FHA Streamline refinance and I was told I do not need to be present or sign any papers regarding the refinance. Is this true?
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November 28 2012
The quit claim deed needs to be filed first then the bank will complete the refinance.
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November 28 2012
If your name was on the mortgage you'd have to sign at the closing. That deed just states your being taken off title.
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November 28 2012
 
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