My Sister's husband is the only one on the loan and my sister is on the title with her husband, husband did not make any WILL did not do the homested, sister cant pay the mortgage and mortgage people wont talk to her bcause she is not one the loan, they told her to get the court letter excutive of the estate then they will talk to her. My question is will she get the house and not pay for it or whats gonna happen who get the house ???? She has credit card debt and thinking abuout bankrupcy should we hold off .Please help we dont have that much time we dont have an attorney either.
2007-10-04 09:51:31 · 11 answers · asked by inder 1 in Business & Finance ➔ Renting & Real Estate
listen first off did he die with life insurance ? if so take the life insurance payment and pay off the mortgage . Obviously he died without mortgage protection insurance right ? okay so now the only thing she can do is take the life insurance and pay the house off . Other than that she needs to sell the house before it goes into foreclosure . take what she gets from the sale and give it to the bank and hopefully it will be paid off after and she will have a little left over . god bless you and I hope everything turns out okay .
2007-10-04 09:57:37 · answer #1 · answered by Kate T. 7 · 0⤊ 1⤋
You need an attorney first. Second, they lender can and will take the house if the mortgage is not paid. If your sister's husband has any assets, they should transfer to your sister, but it sounds like a he didn't have any money/life insurance. Not in a million years will she get the house for free. They have a valid lien and will foreclose as is their right. If you can't afford an attorney and the he had no money, then stay in the house until they kick her out. Save up money for the move to another house. If the house has any equity she could sell the house and make some money. Depending on the laws in your state she can record an "Affidavit of survivorship" which will transfer the house into just her name so she can sell it. The transfer of ownership will in no way stop the foreclosure.
2007-10-04 10:01:01 · answer #2 · answered by proactiveindy 2 · 1⤊ 0⤋
Get the probate judge of the court to make your sister the executor of the estate, such as it is, then she can communicate with the mortgage company. If she is on the title then she now owns the house solely as the other owner was her husband and that gives her sole right of survivor-ship. She can file chapter 13, and it would give her some time to catch the payments up over three or so years, and it would give her time to sell the house and get the equity. Didn't her husband have any insurance? She owns the house, but if she doesn't pay the mortgage payments the house will be foreclosed on. You really need to get a lawyer to be on the safe side and you will need one to do a chapter 13 bankruptcy anyway.
2007-10-04 10:00:26 · answer #3 · answered by H. A 4 · 1⤊ 0⤋
Number 1. It depends on which state you are in.
2. Proof of death is needed to conduct any business. This would be a certified copy of the death certificate.
3. Contact an attorney in your area. They can give you some advice for a nominal fee or perhaps a county or state legal services organization.
Good Luck...I am sorry for your loss.
2007-10-04 10:02:59 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Talk to legal aid. There maybe rules the mortgage company has to follow if it is a hud home. Even if you file a bankruptcy and hold the house from repossession for months, how would she afford it afterwards? I am sorry to hear about those problems, that is bad. The best thing might be for her to move and stay with someone for a while.
2007-10-04 09:55:55 · answer #5 · answered by Anonymous · 1⤊ 1⤋
you need to t5alk to a lawyer urgently , and get letters filed with the mortgage company about the estate. Did he have an life assurance policy ? Is there any legal action pending on the cause of death, ? illness or accident ?
Does she have sufficient income to paythe mortgage herself. ?
2007-10-04 10:06:42 · answer #6 · answered by mark 6 · 0⤊ 0⤋
if she can't pay the mortgage, then she should give up the hosue and take what she can get from the sale proceeds (will be in husbands estate)
2007-10-04 13:14:04 · answer #7 · answered by Anonymous · 0⤊ 0⤋
He didn't have a life insurance policy or anything? I'd say go to the courts, prove she is the next of kin (if that's the case), sell the house and move into a smaller home.
2007-10-04 09:55:31 · answer #8 · answered by largegrasseatingmonster 5 · 0⤊ 2⤋
What state are you located?
2007-10-04 09:58:18 · answer #9 · answered by Matty G 1 · 0⤊ 1⤋
Get an attorney. Do not trust advice on this site with anything important.
2007-10-04 09:56:29 · answer #10 · answered by Dr 8'lls 4 · 0⤊ 3⤋