The second situation does complicate things because now you have to involve the lender

The second situation does complicate things because now you have to involve the lender

Our ARIZONA QUITCLAIM DEED may be used legally to transfer Arizona real property rights to another person or legal entity. A definition of a “legal entity” may be a corporation, partnership, an association or trust, just to name a few. A quitclaim deed e on the title. A valid reason for a name change could be that your name was misspelled, or a middle initial was wrong. A common usage requiring a name change of the title would be because of a divorce or marriage. However, the quitclaim process should only be used if the name has been legally changed.

Most quitclaim deeds are divided up into three parts. Usually at the top of the forms are two sections, one side for the recorder’s use and the other for the return address. The middle of the form contains the legal jargon including the description of the property, name of parties involved and dates. The bottom part of the form is used by the notary to acknowledge that he/she witnessed the signing of the instrument.

What a scenario, both spouses, agree as to who keeps the property and the property is free and clear with no lender involved

Within the middle part of the form, there may appear two legal words that sometimes confuse people. These two words are “grantor” and “grantee.” The “grantor” is the one giving his/her ownership in the property to the “grantee.” The “grantee” is the one receiving the ownership. I use a little trick to remember which is which. Read more

Can I lower my interest rate without refinancing?

Can I lower my interest rate without refinancing?

When mortgage rates drop, homeowners often wonder if they will be able to take advantage of lower rates. In general, lenders require borrowers to refinance into a new home loan in order to change their mortgage rate, requiring the borrower to requalify, the house to pass an appraisal and the homeowner to again pay closing costs. However, there can be another way to lower your mortgage rate without refinancing: a loan modification.

Loan modifications for troubled homeowners

If you are having trouble keeping up with your monthly mortgage payments, you can apply for a loan modification to reduce your interest rate and hence, lower your monthly payments. Read more