---

Foreclosing on Property

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
7178 Joined: 02 Nov 2009 Posts: 2 1.56 Dollars($)	Posted: Mon Nov 02, 2009 2:30 pm    Post subject: Foreclosing on Property Like 0 Dislike 0 I have a piece of property I need to Foreclose on. One of the purchasers theHusband Died in 2006. He is survived by the wife (co-purchaser) and two minor children. Who is responsible for Proof of heirship if proceeds exceed the amount of indebtedness? The Total after foreclosure sale will probably be less than $5,000.00
adonis Joined: 22 Oct 2005 Posts: 10242 Location: ALASKA 1042.50 Dollars($)	Posted: Mon Nov 02, 2009 7:33 pm    Post subject: Like 0 Dislike 0 Hi, It is the wife who can file an affidavit of heirship and transfer the property in her name. If the wife does not transfer the property in her name and if the mortgage is not refinanced by her, then you would only be able to sell off the property. You won't be able to recover the deficient amount. This is because the owner of the mortgage is deceased. _________________ Procrastination is the enemy of your financial success

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0