Upcoming Foreclosures

Quick Claim Deed laws in the State of Florida.?

My father took out a quick claim deed in my name against his home back in 2001. His home is now in foreclosure. Will I be responsible for the mortgage when it defaults.

Public Comments

1. The term is "Quit-Claim". All your father did was state to the world that he relinquishes any ownership (he might have) in the property to you. You are not responsible for the mortgage, unless you signed the mortgage.
2. QUIT CLAIM DEED. He can do anything he likes with the title. It's his mortgage; he'll lose the house if he can't pay the mortgage; or he'll get sued for the straw man transfer to avoid it. The bank will treat the deed as legal toilet paper and will probably foreclose with you listed as a party in posession. Might give you a chance to save the house if you can finance it.
3. Just because you have title does not mean you are responsible for the mortgage. It will still be on his credit and he is still liable for it. There are lots of options available to him and foreclosure is probably the worst. The more time he wastes the harder it is going to be to get anything done. The first questions should be does he or you want to keep the house. Once you have figured that out there are options, short sale, loan modifications, deed in lieu of foreclosure. Good Luck