Reasons to transfer deed to wife?

[IOAlot]

What reasons would there be to transfer deed to a spouse? to avoid a fraudulent transfer.

[Evan Bedard]

What reasons would there be to transfer deed to a spouse? to avoid a fraudulent transfer.

Is the mortgage and deed both in yours and your wife's name? Do you mean you are looking to transfer her off the deed?

[IOAlot]

Transfer my interest to her. Yes, both on the mort, and I am aware that that could lead to a mort default if they poke around.

[Evan Bedard]

Transfer my interest to her. Yes, both on the mort, and I am aware that that could lead to a mort default if they poke around.

I'm sorry but I'm not too sure what you mean by this could lead to being in default. If you sign a quit claim deed to take your name off the deed you and your wife will still be equally responsible for the mortgage as you are both still on the note.

[IOAlot]

Most morts say no deed change, otherwise they can accelerate the note.

Just wondering, what logical reasons are there to transfer deed to wife and protect from fraudulent conveyance.

[luvatholm]

Most morts say no deed change, otherwise they can accelerate the note.

Just wondering, what logical reasons are there to transfer deed to wife and protect from fraudulent conveyance.

Oh nO! I was contacted by BofA for DOJ mod and my ex moved out, so he signed over the deed, Bof A advised me to send in copies so they can start my mod. I hope they don't Accelerate my note?

[Evan Bedard]

Oh nO! I was contacted by BofA for DOJ mod and my ex moved out, so he signed over the deed, Bof A advised me to send in copies so they can start my mod. I hope they don't Accelerate my note?

Is your ex on the mortgage note as well? Even though your ex signed a quit claim deed if they are on the note they are still equally responsible for the mortgage. You can complete a modification using your financials if you provide them with a copy of the quit claim deed, but they may still require their signature to complete the modification if it is approved..

[luvatholm]

Is your ex on the mortgage note as well? Even though your ex signed a quit claim deed if they are on the note they are still equally responsible for the mortgage. You can complete a modification using your financials if you provide them with a copy of the quit claim deed, but they may still require their signature to complete the modification if it is approved..

Okay, I will try and see what happens. He is on the loan.

[Evan Bedard]

Okay, I will try and see what happens. He is on the loan.

You can complete a modification if you qualify based solely off your financials, but I just want you to be aware that if you are approved for a permanent modification they are more than likely going to require his signature as well to finalize the mod.

[luvatholm]

He will sign, he wrote a letter to the bank explaining that he has not lived in the house since 2009 and I have been the sole payee of the loan since then. He has remarried and wants to move on, the feeling is mutual. Thanks for your help. I will keep the forum updated with what happens.

[Evan Bedard]

Well I'm glad to hear you two are still on good terms and he will agree to the modification. You should have no problems working with the servicer by yourself even though he is on the loan. Please keep us posted on your progress and let us know if you have any questions along the way. Good luck!