Quit Claim and Foreclosure - Posted by Phoo
Posted by Phoo on September 22, 2003 at 21:14:50:
Today I just received a notice that a property I bought with my ex is about to be sold off by the bank. I had given said ex a Quit Claim about a year and a half ago. Ex was to make payments, which are about $175.00 a month. Now I see that ex has defaulted.
Unfortunately, my name is on the loan. I am guessing that the Quit Claim doesn’t afford me any protection from the foreclosure, since my name is legally still on the loan. Since I have no written agreement with the ex to document the agreement to pay, am further guessing I don’t have much legal recourse there.
I am laid off and struggling by on unemployment, so there is no way that I can carry this loan myself.
If anyone has some info that would be helpful, I would greatly appreciate it. I will be seeking legal advise this week to try to get a feel for what my options are.
Phoo, Feeling Screwed in Portland