Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Renting & Real Estate
Finance Discussion Forum

 My friend inherited his fathers home that was paid off sometime in the early 70's, is there possibly equity
He is being financially challenged with upkeep of a home that is currently up for sale I was thinking before his father paid off the home that possibly there could be some money in equity his father ...


 In my situation is an interest only mortgage right for me?
I own a home, brought it in 12/04 (2 years to the date) for $242,000, the Appraised Value as it stands is $305,000 so it has appriciated $63000 in 2 years. Our current mortgage is a 30 yr fixed rate ...


 We just bought our first house?
What are some maintenance things we should be aware of? Do you have any tips? We live in NJ, the house was gut renovated, and everything is new. Thanks!
Additional Details
Thanks ...


 Is it ok to break my lease if I dont feel safe?
There is this guy who is stalking me. He keeps knocking on my door and trying to get me to have sex with him for money and trying to sell me drugs. I have no clue who this guy is. I have called the ...


 It is possible to just give my house back to the mortgage company?
I hate my house and may soon struggle to pay the mortgage, can I just give the house to the mortgage company. I dont care about money, i just want out or will it be classed as repossession??...


 Anyone out there think renting an apt is better than buying a home?
buying a house verses renting....


 Is it a good idea to buy repossessed/foreclosed homes?
i'm a first-time home buyer and i want to buy a house that i can afford and that won't give me as much stress when it comes to finances....


 Can some one help me? I have applied for a loan and the loan was approved.?
I haven't got the closing date yet. How long after the approval dose it take for the closing to happen? The company I am working with is a broker. They say I have been approved and I have ...


 If home values are rapidly heading down, will cities re-assess homes lower to help their fellow citizens?
NOT!!!!!!!!!!!!!!!...


 Can i get personal loan without mortgage anything?
i don’t have enough money in my bank account,in fact I don,t even have any job right now,but I wan,t to invest in real estate,can I get personal loan from any bank without mortagage anything?im an ...


 If i got £20,000 a year. could i rent a flat for £800 pcm?
...


 Is 45k a good salary for a 22/yo male living in Tucson?
I'm going to be moving to Tucson in 6 weeks, and I was just wondering if 45,000 dollars a year gross is a good salary for the city/geographic area. Any thoughts?
Additional Details
...


 Not happy with interest rate on Closing, Can I still get another Loan from another company?
I am a first time homebuyer. Is this a good deal?

Selling Price: $232,000 House on Lennar - Las Vegas, NV
Benefits:
Seller will pay 3% Down Payment: roughly $7000
Seller ...


 If I I accept an offer on my house that is less than what I owe, what happens?
I am selling my house for $159, if someone offers $150 and I still owe on the loan; will I be expected to pay the difference at closing or will the loan company work with me? (There is no Equity in ...


 Does anyone know an average figure for the monthy utility bills for a couple who are first time buyers.?
...


 Tenant & landlord question. My washing machine flooded and water came through the ceiling downstairs?
The water has left a patch on the ceiling and a thin crack - it hasn't damaged any contents - can anybody tell me if this comes under the buildings or contents insurance. As a tenant i don'...


 How do i ut the cust of my household outgoings? How do you live on a budget?

Additional Details
cut the cost not ut the ...


 Closing home in 2 months...Should I buy furniture yet?
Hi everyone!
We are buying our first house. We do not close until the end of April, but we have found some really nice pieces of furniture on sale now.
My parents have offered to buy the ...


 What is a lease?
...


 I am a 1st time homeowner with zero mortage. How do I access the equity in my home?
...



be real
I need advise, My x wants me to sign a quit-deed so she can sell the house,. should I ?
It is in the divorce decree that she owes me money, but she said she needs this quit- deed signed first, In the decree it said she would refinance the house to pay me instead she got remarried in 3 weeks after the divorce and is selling the house. I dont have money to hire an atttorney again, does anyone out their know for sure what I should do to get my money, should I sign it ?
                     
 




Kate the Great
Rating
I probably wouldn't sign it. A quitclaim deed means that a person releases or "quits" any claim that they may have had to property. It doesn't seem like she is too eager to pay the money that she owes you so I would proceed with caution. If you sign the deed and she sells the house, she still might stall and avoid paying you back.

You could always try to find some sort of inexpensive legal aid to try to figure this out but definitely DO NOT SIGN the deed - use the house as leverage to get her to settle the debt she owes you.


acermill
Rating
Do NOT sign a quit claim deed to the property. In doing so, you relinquish any claim of ownership to said property. A much better way to go about this is to have her sell the house and then BOTH of you show up at closing to sign off on the documents and ownership. Of course, YOU don't sign unless the title company cuts you a check for the amount owed to you.

That's your 'ace in the hole'.


Weimaraner Mom
If she didn't refinance when she said she would then what makes you think she'll give you the money once she sells it? Do not sign a quit claim you relinquish ALL your rights to the property. Instead, if she wants to sell let her, you will have to sign the contract and the closing documents, and the check will come with BOTH names on it, so she will not be able to cash the check without your signature. This way you still maintain control of the money and where it goes and the fact that you get some. Otherwise she could deposit the check and off she goes.

So she married 3 weeks after the divorce? I thought in most states you weren't permitted to marry until 30 days after the divorce being recorded?


Gem
Rating
You do not sign the quit claim deed until the day of closing AFTER you see the check made out in your name (and the check to pay off the joint mortgage).

Here is what she can do if you sign it first, file bankruptcy for her debt, quit paying the mortgage and lose your house to foreclosure. You would have no rights to the property (you signed them away) and 100% rights to the mortgage debt. Don't do it.

Just tell her that you are prepared to be present at close to collect your check, make sure the mortgage is properly satisfied and sign the quit claim deed.

You are not required to do it before hand, let her pay a lawyer to tell her she is screwed.

Good luck, divorce sucks....


Judy1
NO! If you sign a quit claim deed, you are giving her any interest you have in the property. Tell her that if she gets a buyer, you'll be glad to sign the necessary papers at closing assuming that your share of the proceeds is given to you then.


white.wendell@sbcglobal.net
You absolutely have to get an attorney! She is in violation of the court order and therefore needs to be charged with "contempt of court"! She could actually spend some time in the county jail for this.... Sounds to me like she's got it coming! If you sign the Quit Claim, you will be giving up all rights to the property. It is exactly what it says. A Quit Claim!


BulletGirl
Rating
No ! Don't sign anything just yet call any legalaid they should give u free advice u don't need 2 hire anyone I have a # that might help u 1(956) 447-4883 try 2 get a hold of someone in ur area if not just call a divorce lawyer and explain they will usually go off talking about what u need 2 do!!!


Pantherempress
Rating
Do not sign, she will never pay you your money. Try Legal aid or take her to court yourself for being in contempt of the original decree.
If the judge is fed up with her you may end up with the house.


Ram
Rating
NO! She either comes to a closing with your full payment or NO DEAL! Once you sign that she owns it and you have no rights to it on any capacity. If the home is to be sold then it should be done straight out and if it comes to closing and she isn't prepared to pay you in full sign nothing.


beachbum
Rating
acermill is correct,I did a quick claim deed with my husband and they told him once he signs it,I am under no obigation to give him anything, please think twice about this,you have to look after number 1 you!


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.034
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy