Consideration for a Quit Claim transfer can be $1. Most of the Quit Claim transfers that I have come accross show a consideration of $10.00 or $100.00. A promise to perform can also be consider consideration for a contract to be binding.
Regarding consideration on the QC: I have seen everything down to $1.
One thought that comes to me though is if this is a foreclosure bailout maneuver, your son will not be able to get financing on the home.
If not ,and he simply wants to take out your financing and replace it with his (rate & term), most lenders will require him to make and document 6* months of him paying your loan. If he wants cash out, the requirement is 12 months. (Fannie and Freddie have no seasoning requirement for the refinance but individual lenders do).
* I do know of one lender that will allow 3 months seasoning on R&T if the new borrower can prove at least 3 months residency at the address.
Before you transfer the title be sure to verify your son can get the loan.