Dear Dawn, This may have been a bad move for your husband in the end. Deeding your rights to property over to another doesn't change the fact that you have an obligation to the mortgage company to guarantee the loan. Is this an assumable loan? My family is mixed up in a mess on my sister condo. My parents and my sister where on the loan for her to qualify to buy her condo with the understanding when her income was enough she would assume the whole loan. She never followed through on this and probably could have qualified on her own at some point. She remarried and there is bad blood with the husband and the whole family. Come to find out this was not an assumable loan even though my parents thought it was. My sister would have to take a brand new loan and refinance which they do not qualify for. The condo has been in and out of the foreclosure process a few times in the last few years. My parents are elderly and do things the right way and have never paid anything late in their lives. My parents early on quick claimed the property to my sister. You really don't own it until you pay for it as the lender has it as the asset to secure the loan. My guess would be unless you can qualify on your own to refinance or assume if they let you he is stuck. He could maybe ask the court to force sale to get out from under the obligation. He has already given it to you would be my guess since he did quick claim it to you. You need a lawyers advice on this if you haven't already gotten it. It might be smart to record the deed ASP so he can't try and change his mind but again this is a major decision that personally I would want expert advice on. Good luck and I wish you a beautiful new life.

It was assumable, however, last year we went through a 'Loss Mitigation' process to lower our mortgage payments. After following the guidelines, we were approved for the new mortgage payment. This new loan was divided, we owe the Mortgage Company 'said $ amount' until a certain year. Then we owe HUD the balance, kind of like a balloon payment. So I am thinking that this would change the loan and make it not able to be assumable. So, if I would sell the home, both loans would have to be paid in full.

Thank you for your reply and best wishes. I can't tell you how much I wish this was over yesterday.