Is it ever better to use a quitclaim over a refinance to remove a co-borrower?

A Quit Claim ONLY removes someone from legal ownership of the home. It DOES NOT remove someone from the existing mortgage loan. The ONLY way to remove someone from the mortgage loan is with a refinance.

There are 2 key documents associated with real estate.. the Deed, which identifies the owners, and the mortgage, which identifies the parties responsible to repay the debt secured by the real estate.. you can remove your self or a co borrower from the deed, and that takes away any ownership interest they may have, but to remove someone from being liable for the mortgage, it has to be paid off.. either by selling the home, refinancing the home, or just paying off the balance.. You are correct, the only way to avoid responsibility is to refinance and get removed from the mortgage. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

If your objective is to remove a co-borrower from title and the mortgage, Mr Metzler answered your question perfectly. The only way to remove someone from the mortgage is to refinance. Feel free to contact me if you have further questions.877-369-4319

Joe M is exactly correct, otherwise you both remain responsible for the mortgage - even if (for example) a divorce decree makes them responsible it will still have a major impact on your credit. The lender isn't bound by the divorce decree

In most states, it is best to refinance in order to be removed from the financial obligation. In the event of default, the lender has recourse to whomever is listed on the note. The note must be either paid in full, such as a refinance, or modified by the lender. Simply quit-claiming over a person's ownership interest in the property does not eliminate the financial responsibility.

A quitclaim only removes someone of ownership. If one still on the mortgage, then the co-borrower is still responsibility. Feel free to contact me if you have further questions.1-714-943-6499

Joe and William pretty much have it down. There is not much to add.

Refinance, as others have stated, is the safe way.

As many before have already attested to, the safe method generally is to refinance. However the safest method would be to look at your situation in order to consider what other factors are present. If you are interested in speaking directly with a professional please send me an email, sean.graves@changemyrate.com and/or visit our website www.changemyrate.com. With a little more information and a bit of dialogue between us, I'm sure we can help you arrive at the best conclusion for situation. We service all of California and look forward to hearing from you! Sean