My grandmother passed away 2 years ago and had virtually nothing. The lawyers are attempting to come after my family to pay off the rest of her mortgage. Are they responsible for this? They also don't have any money...
2007-11-05 05:17:07 · 8 answers · asked by lish4angel 2 in Business & Finance ➔ Renting & Real Estate
My grandmother passed away 2 years ago and had virtually nothing. The lawyers are attempting to come after my family to pay off the rest of her mortgage. Are they responsible for this? They also don't have any money...
The house was not left to anyone, and there was no estate. The bank owns the house, they changed the locks 4 months after she died so that our family could not get into it. Therefore its not ours to sell. They have received paperword showing there was no estate yet continually try to get my family to pay for it. Seems they should just be selling it and getting their money that way.
2007-11-05 06:12:41 · update #1
Who handled the estate settlement?
I assume from your question that your grandmother left a mortgaged house in her estate. If so, then the house cannot be passed to her beneficiaries without either paying off the mortgage, having the beneficiaries renegotiate the mortgage, or selling the house during the settlement phase and paying off the mortgage from the proceeds. Of course, your family could always decide to just let the lienholder foreclose on the house and forget about that house as part of the estate (I wouldn't recommend that unless the house was worth the same or less than the mortgage amount).
If somehow your family thought that the house could be passed on and the mortgage could magically be forgotten about, that would explain why the lawyers are after you now. Or if the estate was not handled correctly and your family just ignored everything.
2007-11-05 05:32:05 · answer #1 · answered by enoriverbend 6 · 2⤊ 0⤋
I have not heard the word probate as of yet. Your family should have hired a probate attorney to handle the probate of your grandmother's estate through the probate court of your state.
This will solve all your problems about who owns the house and who will finish paying the mortgage of the property.
Your attorney would be paid once the probate is complete and possible from the sale of the house,if this is the solution. Some one from your family will or should act as the executor of the estate to assist the attorney.
Some one also have to make her final income tax to the IRS. This is normally done by the executor
I think by your saying the lawyers are coming after you , you mean the banks attorneys.
Yes they would come after you if no one has made a payment on the property since your grandmother died.
There are some states where if what is left is less than a certain amount you go to court without a probate attorney.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-11-05 11:31:33 · answer #2 · answered by loanmasterone 7 · 0⤊ 0⤋
Typically yes, if she left the home to a relative in order for them to own the property they need to take over the mortgage. Otherwise sell the property to payoff the mortgage and they get the remaining balance. Technically that house did not belong to your grandmother it belonged to the bank and since she dies it does not mean your family suddenly get the property free and clear. This is why there is such a thing a mortgage life insurance to cover the remaining balance if the owner dies. I'm so sorry for your loss and how horrible this is for your family but just sell the house and end the whole process.
2007-11-05 05:30:41 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Nope - the bank or lending institution should have taken the property if it was not paid off or the estate should have continued to pay the bills. You have no right to the property but you don't have to pay for it - UNLESS you've been living in it. You may be stuck there.
2007-11-05 05:24:42 · answer #4 · answered by Lex 7 · 1⤊ 0⤋
If someone in your family inherited Grandma's house, yes, it has to be paid off. You don't get to keep inherited real estate and not pay the amounts due on it.
If the family cannot afford to refinance Grandma's house (assuming it was inherited) in their own names, then it will need to be sold to satisfy the outstanding mortgage amount.
2007-11-05 05:43:18 · answer #5 · answered by acermill 7 · 1⤊ 0⤋
Unless you cosigned, then contact a lawyer.
You may be able to counter sue for harassment by collection agents -- pay you legal fees and for the house.
2007-11-05 05:27:07 · answer #6 · answered by ★Greed★ 7 · 1⤊ 0⤋
are they listed on the loan or the deed?
yes? then they are responsible
no? then tell them to pound sand....
in ALL cases, if other persons are not listed on your bills, deeds, loans - then they are NOT responsible.
you may have to retain an attorney to write them a nasty letter to back off...but NO they are not responsible if not on deed or loan.
good luck :)
NOTE: I want to amend to say those responders who have told you that if it has been left as an inheritance ---then yes you are responsible----THEY ARE CORRECT......thanks :)
great answer ACER!
2007-11-05 05:21:11 · answer #7 · answered by Blue October 6 · 1⤊ 0⤋
Only if they signed something saying they were responsible for his debts. Otherwise your grandfather’s estate (i.e. whatever assets he left) is responsible.
2007-11-05 05:22:53 · answer #8 · answered by Anonymous · 1⤊ 0⤋