Long story short, I owe more than I could ever sell this house for, among other debt. My ex wife would like to take over the mortgage and move in. While I don't care one bit about her life, I don't have any issue with her living there, after all I'm walking away, it's either going to be her, someone else, or the bank will own it for years. What do I care?
Anyway I never got it refinanced after the divorce, so the mortgage is in both of our names. I also never got her to sign a quitclaim (just never got around to it), so the deed is in both of our names. The finance company is BOA, if that makes any difference.
If I walk away from this, and sign a quitclaim, is she going to be able to just start making the payments and move in or is the bank going to want to repossess their collateral instead?
Anyway I never got it refinanced after the divorce, so the mortgage is in both of our names. I also never got her to sign a quitclaim (just never got around to it), so the deed is in both of our names. The finance company is BOA, if that makes any difference.
If I walk away from this, and sign a quitclaim, is she going to be able to just start making the payments and move in or is the bank going to want to repossess their collateral instead?