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deceased spouse had loan and deed under his name only

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betheflanagan Joined: 20 Oct 2008 Posts: 1 1.48 Dollars($)	Posted: Mon Oct 20, 2008 2:50 pm    Post subject: deceased spouse had loan and deed under his name only Like 0 Dislike 0 I live in California - community property state. My husband and I bought our house 2.5 years ago right after getting married. Since I wasn't on the loan (for better interest rate purposes) the bank demanded I sign an interspousal transfer deed making the property his sole and seperate property. He passed away 3 months ago and I haven't made a mortgage payment since his passing because I can't afford $3200 per month on my own. I'm not on the loan and I'm not on the deed so my question is what am I legally liable for as the deceased spouse even though I'm not on the house? Am I liable for the over due property taxes? Can the bank come after me for foreclosure court costs and fees? If I call the bank and tell them about my situation I am afraid they won't be able to modify the loan into something I can afford and my fear is then they won't treat it as a possible foreclosure (because I don't own the house due to interspousal deed) but more of an eviction - leaving me less time to figure out where to move and what to do with my life. I am torn - call the bank and tell them what has happened or ignore the bank and buy time? What am I liable for?? Thanks - Beth
smithsussane Joined: 18 Sep 2008 Posts: 10435 Location: Alaska 985.20 Dollars($)	Posted: Mon Oct 20, 2008 8:13 pm    Post subject: Like 0 Dislike 0 Hi betheflanagan! Welcome to forums! You were not on the property papers or on the mortgage. Moreover you have also signed the inter-spousal deed. I don't think the bank will come after you and ask you to pay the debts. But they can definitely foreclose the property. If you want to save the property, you will have to pay the taxes and the debts. You can call the bank and inform them and see what they say. They may give you a better option by which you will be able to save the property. Feel free to ask if you have further queries. Sussane
Niicss Joined: 03 Oct 2005 Posts: 4831 Location: New Jersey 508.39 Dollars($)	Posted: Tue Oct 21, 2008 2:43 am    Post subject: Like 0 Dislike 0 Hi betheflanagan! I will suggest you to inform the lender. The lender will tell you what your next steps will be. Thanks. _________________ Good is the Enemy of Great.

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