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Old 03-07-2011, 01:58 PM
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Default mortgage quitclaim deed question?

My friend bought a house as a co signor with his mom because he didn't qualify alone, but of course the house was for him. His mother eventually moved in with him after filing for a divorce a year later and to get the most she could out of her divorce she signed a quitclaim deed. Her name of course is still on the mortgage and now because she is trying to buy another house she cant because the house mortgage is still a debt to income ratio on her credit. Is there anything that can be done other than refinance. He didn't qualify for the house without her and Im sure if he tries to refinance he wont qualify alone. Also she asked him to sell the house so she could get her interest out of it. Is she owed any monies from the house since she signed a quitclaim deed a month after the loan was applied for and has never paid a mortgage payment.
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