Legal Question in Banking Law in Virginia
mortgage
what is the down side if you do quit claim deed. Does it affect your credit worth?
How about assumption?
Asked on 4/17/08, 8:45 am
1 Answer from Attorneys
Robert Strupp
Robert J. Strupp,Attorney at Law, PLC
Re: mortgage
More information is needed, such as who the Grantor is deeding the property to. If it is a deed to the lender, it may have credit score consequences. If it is to a third person, a deed transferring title does not usually act as a release of any mortgage obligation.
You may want to contact an attorney for more information..
Answered on 4/17/08, 10:57 am
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