About Quitclaim Deed, Can You Help?
Do I lose things in the house I am still making payments on, if I sign a quitclaim deed?
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Yes. If you sign on the quit claim deed, you effectively release your ownership to the residence. If you're still listed on a mortgage or credit/debt to the home, you're still financially obligated to pay that debt. My recommendation would be NOT TO SIGN THE QUIT CLAIM DEED releasing your ownership to the home, if you're expected to still make payments on the residence. It would be a terrible move. As long as you have some kind of financial obligation relating to the home, keep your name on that deed! Once you deed off, the house can be sold or refinanced without your consent, and you could do absolutely nothing about it because you released your rights of ownership.
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