Mortgage refinance


#1

When a mortgage is executed it requires the signing of a promissory note and a deed of trust which secures the mortgage companies interest in this property. If your name is on the deed then both parties need to sign the deed of trust. In some instances the mortgage company will not remove you from the deed of trust in the future without another refinance. If you are considering executing a quit claim deed, you should consult with an attorney before doing so.

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax

Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044

Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#2

I am currently going through a divorce and want my wife to take over the over mortgage on the house. She wants me to sign a quit claim before she refinances the mortgage in her name. Is there anything preventing her from refinancing the mortgage in her name only before I sign the quit claim? I am reluctant to sign away the title on a house I am still legally obligated to pay the mortgage on.
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