Refinance Loan WITHOUT Quit Claim Deed Executed
Hello,
My step-son's name is on Title on our home. We want to refinance our Adjustable Loan, remove him from Title, therefore, when our new loan is established, this would completely ABSOLVE him from his original loan on our house. He REFUSES TO EXECUTE THE QUIT CLAIM DEED "PRIOR TO US GETTING THE LOAN" How??
The Bank fully approved us, but said that they cannot pull Escrow papers or proceed any further WITHOUT THE EXECUTION OF THE QUIT CLAIM DEED SIGNED, NOTARIZED AND RECORDED WITH CLARK COUNTY RECORDER'S OFFICE.
The Bank has given him (2) OPTIONS that seem agreeable to everyone but HIM!
OPTION (1) Add my name to the Title during the Escrow and the completion of my ALREADY APPROVED LOAN. His name on Title falls, his Mortgage is then PAID OFF which then ABSOLVES HIM FROM ANYMORE RESPONSIBILITY.
OPTION (2) Execute the Quit Claim in order to complete our Refinance on our Adjustable loan so that the Bank and the Escrow Dept. can move forward.k
My step-son REFUSES both options! Now what?
We've called so many Lenders and Escrow Depts and they all say that they cannot move on this if he REFUSES either option. They said that no Lender or Escrow Dept. can LEGALLY ADVANCE OUR LOAN. The Bank and Escrow Dept. would be held to a lawsuit?
Please advise. Thank you
Refinance Loan WITHOUT Quit Claim Deed Executed
We have a WRITTEN MEMO from him, dated and signed which states the following:
"WE ARE THE RIGHTFUL OWNERS AND ALWAYS HAVE BEEN." "WE ARE RESPONSIBLE FOR THIS MORTGAGE"
We paid the down-payment, monthly mortgage payments for (9) yrs. sewer bills, Homeowner Association invoices, etc. etc. etc.
We need a LEGAL answer please so that we may submit this in court to complete our loan.
Please advise. Thank you