Legal Question in Real Estate Law in Virginia

Refinancing

I have a co-borrower on my mortgage loan who has incurred some liens against our property. Two years ago, I did a quick claim to remove his name from the deed so now the house is deeded only in my name. I would like to refinance the home. Questions: 1) Can I refinance without paying the liens? (Neither lien has my name on them) 2) Do I have to contact the lien holders about my intention to refinance? 3) Do I need to contact a lawye


Asked on 9/20/02, 9:24 am

1 Answer from Attorneys
Bruce Marshall Durrette, Irvin & Bradshaw, P.L.C.

Re: Refinancing

If the liens were affixed to the property before the quitclaim deed was recorded then any refinance or sale of the property will require the removal of the liens. In other words you will have to satisfy the judgment holders pay them , make a deal with them or whatever to get them to remove the liens. To the extent you have to do this with your money you would have a right to recover thosae amounts from the co-borrowerer. And yes you should get a lawyer to help you through this.

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Answered on 9/20/02, 11:52 am


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