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Thing I learned this weekend...

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hjeepxj [JU]

Archived
Jeepnut28 said:
your mortgage has two parts. the actual note/debt and the deed.

one can be on the deed, but not on the note, one can be on the note but not on the deed.....as you research this keep in mind that these two parts are independent of each other.

the quit claim deed, is her basically her giving up her rights to ownership of the house, and having her name taken off of the deed.

once that is done, then you need to refinance the mortgage into your name solely.

call your title company and they can help you through this and get you the quit claim form you need.
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That sounds like a plan, I had a little bit of an idea about the quit claim deed prior to this, but now Im going to have to learn way more than I wanted. :(
 
J

Jeepnut28 [JU]

Archived
FischInAJeep said:
So a COMPLETE FAIL, would be to have her name on the deed, but not on the note, hence she would have full legal right to the house without ANY legal financial responsibility...sound 'bout right??
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yessir.

alot of people will do that....refiance the note into their name solely but then never do the deed work.....a mortgage company will not fawk with a deed unless a quit claim is signed.
 
F

FischInAJeep [JU]

Archived
Jeepnut28 said:
yessir.

alot of people will do that....refiance the note into their name solely but then never do the deed work.....a mortgage company will not fawk with a deed unless a quit claim is signed.
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:jawdrop:
So, in that case, if she wanted to be a 100% evil bish, she could refuse to sign ANYTHING over and pretty much have the PeaNUTS in a ringer. :naw:
 
J

Jeepnut28 [JU]

Archived
hjeepxj said:
That sounds like a plan, I had a little bit of an idea about the quit claim deed prior to this, but now Im going to have to learn way more than I wanted. :(
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just tell her that she needs to sign the quit claim deed so you can get the note out of her name and free up her credit.....dumb bish will sign in in a heartbeat.
 
T

ToomsTJ [JU]

Archived
Jeepnut28 said:
nope. she can sign it away w/o compensation if she so desires.....no one is going to check up and make sure she got half of the equity...no one really cares, and if you sign it away then its gone. just going to come down to who is the better negotiater.
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I understand that and I'm saying she's STUPID if that's what she does. Why walk away empty handed? She can get some money and then buy a place of her own.
 
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Jeepnut28 [JU]

Archived
ToomsTJ said:
I understand that and I'm saying she's STUPID if that's what she does. Why walk away empty handed? She can get some money and then buy a place of her own.
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she's a cheating whore. who cares.

she deserves to get fawked over.

she entered a financial agreement based on eventually getting married and being faithful to each other. she failed miserably at it, why should she now profit from the agreement leaving peanut head with 100% responsibilty for the debt.

chances are they've been paying nothing but interest on the note, leaving 99.9% of the principle that she PROMISED to pay still there. she is walking out free and clear. sounds pretty fawking fair to me.
 
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ToomsTJ [JU]

Archived
Jeepnut28 said:
she's a cheating whore. who cares.

she deserves to get fawked over.

she entered a financial agreement based on eventually getting married and being faithful to each other. she failed miserably at it, why should she now profit from the agreement leaving peanut head with 100% responsibilty for the debt.

chances are they've been paying nothing but interest on the note, leaving 99.9% of the principle that she PROMISED to pay still there. she is walking out free and clear. sounds pretty fawking fair to me.
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You know we're only hearing a third of the story. There is his, hers and the truth.

I highly doubt her starting to see another guy is even a shock. There are always signs and obviously he was a failure as a partner so she went to someone else.

She deserves half of any equity in the house and I hope she gets it.
 
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Jeepnut28 [JU]

Archived
ToomsTJ said:
You know we're only hearing a third of the story. There is his, hers and the truth.

I highly doubt her starting to see another guy is even a shock. There are always signs and obviously he was a failure as a partner so she went to someone else.

She deserves half of any equity in the house and I hope she gets it.
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its a depressed real estate market, with only a couple of years paid on a note.....I seriously doubt there is any equity in the property. in fact I'd say he is upside down on that property and letting her walk away free and clear is an act of extreme kindness.
 
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ToomsTJ [JU]

Archived
Jeepnut28 said:
its a depressed real estate market, with only a couple of years paid on a note.....I seriously doubt there is any equity in the property. in fact I'd say he is upside down on that property and letting her walk away free and clear is an act of extreme kindness.
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Maybe. Maybe not. Only he knows the truth. JU will never know.
 
H

hjeepxj [JU]

Archived
ClownFish said:
Burn the house down with her in it. Problems solved.
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:yup:





We have had the house since December, so 6 months of "equity"...Probably around 1000$ in equity, or less. (probably less) so being compensated for that isn't really, really worth it for her.


As for the quit claim deed, once she signs it I understand we both still have the financial liablity, but considering I have always paid the mtg entirely, she can't really stop paying and make me default.

What can she do @ that point to stick it to me, considering I can't be hurt financially???
 
C

ClownFish [JU]

Archived
hjeepxj said:
:yup:





We have had the house since December, so 6 months of "equity"...Probably around 1000$ in equity, or less. (probably less) so being compensated for that isn't really, really worth it for her.


As for the quit claim deed, once she signs it I understand we both still have the financial liablity, but considering I have always paid the mtg entirely, she can't really stop paying and make me default.

What can she do @ that point to stick it to me, considering I can't be hurt financially???
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I could be wrong but if she is still on the note and can prove she made some of the payment she could sue to get ownership back in the future. Tie off all loose ends and get this cheating whore completely out of your life. Refinance in your name only or talk to your bank about getting her off of the note.
 
H

hjeepxj [JU]

Archived
ClownFish said:
I could be wrong but if she is still on the note and can prove she made some of the payment she could sue to get ownership back in the future. Tie off all loose ends and get this cheating whore completely out of your life. Refinance in your name only or talk to your bank about getting her off of the note.
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That is what I am going to do, just trying to see how pressured I should feel to get it refinanced.
 
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