Foreclosure And Quit Claim Deeds
I am interested in a property that goes to hearing in 3 days. Someone at the bank in collections told me I could quit claim deed the property, come in and catch the payments up and pay attorney fees and continue making the payments. Now I have been told by the attorney to bring the copy of the quit claim deed and a request for reinstatement figures to them but someone else at the bank told me that I could not continue the loan. Help me Please!!!!! 
Which bank?
Has the owner already agreed to sell you the property?
Needless to say, time is of the essence. Don't let that prevent you from doing your due diligence. First and foremost, have you done a title search? Secondly, going the quit claim deed route is a viable option if you have the money to reinstate the loan. Most loans that originated before '97 are not assumable so you will have to refi the loan in order to get the current seller off the note. Now, you have to be careful because if indeed the loan is not assumable, it can be callable upon transfer of deed. That being said, most banks don't execute this clause if the payments are being made and paid in full. I have been in your situation a few times and I know the anxiety level you are experiencing. Just make sure that doesn't cloud your judgement. Do you have a release signed by the owner so you can get the vitals of the pay-off amount?
God luck!!!
Matt