What should I do about our quick claim deed situation?

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My wife’s ex signed the quick claim deed removing his rights from the home that both of them are on the loan for. The house is up for sale with a real estate company with only my wife on the agreement because they have a copy of the deed. We are about to go to mediation for child custody and possibly court if that proves to be not useful. So the situation is: right now my wife and i are paying the loan, plus our rent and the good: He gets nothing when it sales and in the mean time he can’t purchase a home because he’s still on the house because we haven’t refinanced, The Bad: He’s getting good credit from us paying the mortgage on time, after he’s really hurt my wife’s credit from a truck he didn’t keep up with on the payments. What would you do? We’re wanting it sold and don’t want to refinance but I thought I’d ask someone (like you) who may know more about these deeds and if there’s something I should consider or maybe hadn’t thought of yet. Thanks!
Well, the reason I even mention that I like the fact that he can’t buy a house as long as he’s on the mortgage is because he’s going to be paying up to $ 400 a month for child support and we don’t want to hurt him. He has seen his son 5 times this year and it’s August! He picks him up for 6 hours max. When he got served the papers he was more concerned about having to pay child support than resolving and trying to negotiate, that’s what mediation is about. My question is more along the lines of: I hate small print info that I may overlook, without refinancing, if he stays on the loan…and we sell, are we still ok to sale the house? Is everything ok, I just want to not be caught off guard and be surprised because I haven’t thought of everything or missed something. So to those of you who think we’re being vindictave sorry if I didn’t clarify what I was asking and hope this helps.
yes i did mean quit claim deed sorry i was thinking faster than typing.

7 Comments
  1. Reply
    Rick B
    May 3, 2011 at 4:12 am

    Well, it is a QUIT claim deed. He is quitting his claim.

    Not sure what you are asking though. If you want to sell the house, then sell it. If not, then don’t.

    You should not worry about how you are affecting his credit. Get over it and concentrate on your housing needs, not getting even with someone.

  2. Reply
    mortgageboss
    May 3, 2011 at 4:13 am

    When the house sells, it will be one less thing to link you to him. It sounds like you’ve considered everything else so far. Good luck with the rest.

  3. Reply
    bull_rooster_aardvark
    May 3, 2011 at 4:32 am

    If you want to sell it, go ahead and sell it. It will help him a bit by taking him off this debt, but so what. You want to sell it, and you’ll get the money from the sale so I wouldn’t even consider him at all (ie don’t go out of your way to help him but no reason to vindictively hurt him either – just do what is best for you) and just go ahead with the sale since thats what you want to do.

  4. Reply
    maxmom56
    May 3, 2011 at 5:25 am

    You can’t damage his credit without hurting your wife’s credit. You have nothing with which to negotiate.

    Get past this and get on with your lives.

  5. Reply
    bankergirl
    May 3, 2011 at 5:56 am

    Rick’s right on all points. If we both are misreading your question and your really trying to ask what to do financially since you’re paying both a home loan and rent, I guess my response would be is there an option to sublet your rental and lie in the home until it sells? Or, do you really want/need to sell it- if you can get out of your lease or sublet until your term is up, why not move into the home?

  6. Reply
    Fred S
    May 3, 2011 at 6:47 am

    I’m sure you mean quit claim. As you know, this instrument wont remove a name from a mortgage. But in the positive side, if a profit is made then your wife gets to keep it– after all, the ex quit his claim, thus the name for this land instrument.

  7. Reply
    Debra G
    May 3, 2011 at 7:35 am

    I would sell the house to completely release yourself from her x as far as the house, although you are still linked because of the kids, and always will be. I know it is irritating that he is benefiting every time you make a mortgage payment, and getting over it and moving on, is easier said than done. Especially because he burned your wife with the truck non payments. Just sell the house, and let him keep ruining his own credit, without benefiting from your house payments. I guess you have to go through the whole bitter divorce thing to understand how you feel. I sure did, and 10 years later I am still bitter. He ruined a lifetime of my good credit, and it has taken me this long to get it back to where it was before I married the loser! Hang in there, and good luck.

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