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My husband passed away last year with out a will. The mortgage loan was in his name, but the deed is in both our names. I contacted Bank of America and they sent me a simple loan assumptions agreement form to fill out. They are stating I need to go through probate to become the adminstrator or executor of the estate. I went to probate( I live in North Carolina), but probate advised not to open the estate since it was so small. That it will be a long and costly process. They did a Years Allowance instead and said that should suffice since I am on the deed. I contacted BOA and they too said this should suffice. I sent the paper work in with the fee around the same time the loan servicer was changed to BAC Home Loan Servicing. Now they do not have the previous paperwork and are saying that I have to probate. I have tried tirelessly to contact BAC home loan servicing for Bank of America mortgage loans, but they have 1 hour plus hold times for the assumptions department and the customer service department is clueless. The new loan servicer is saying probate, but probate is saying it is not necessary. Any advice on what I should do?

jerry · Posted: Wed Sep 15, 2010 2:16 am Post subject:

Hi PM,

As there is no will, you should contact the county clerk's office and file an affidavit of heirship to get the property transferred in your name. Once the property is transferred in your name, I don't think the lender will insist for a probate prior to loan assumption.

Thanks,

Jerry

Guest

I had a same case with PM. I faxed the deed which under my name and they still need me to fill the "simple assumption agreement".

Guest

to PM, any result?

Guest

HI .. My Father passed away leaving my parents home in a trust, my mother is the a co trustee. My father took out a loan with BOA without my mother signing on the note, she is on the deed. She can no longer make the payments and the property is not worth what is owed on it .. what can we do . help

adonis · Posted: Wed Nov 17, 2010 12:28 am Post subject:

Hi SONJA,

Your mother's name is not mentioned on the property deed. In such a situation, your mother is not personally liable for the mortgage dues. However, if your mother wants to save the property, she will have to pay off the dues. Your father's estate may help her in paying off the mortgage dues for the property.

Guest

my wife and i are in the middle of divorce and i am the primary on the mortgage..i want to know how or what would be involved with me getting an assumption loan to release her from any liability with the house

smithsussane · Posted: Tue Mar 01, 2011 12:51 am Post subject:

Hi tytiana!

Welcome to forums!

You will have to contact your lender and apply for assumption. It will depend upon the lender whether or he will agree to your request for assumption. If the lender does not agree to it, then you will have to refinance the loan in your name.

Feel free to ask if you've further queries.

Sussane

Guest

our daughte name is on our mortgage, because we asked our daughter to sign onto a refinance with us in november 2009. Now because of medical and financial problems we have not been able to keep up with our mortgage and have submitted for a laon modiification. we would like to have our daugher's name removed so not to ruin her credit. we have already completed and submitted a quit claim deed through our lawyer to bank of america. how can we have our daughters
name removed from the mortgage payment responsibility. thank you for your response.

jerry · Posted: Mon Mar 21, 2011 2:20 am Post subject:

Hi Guest,

Unless you refinance the mortgage in your name or assume the loan, you won't be able to remove your daughter's name from the mortgage docs. Unless her name is removed from the mortgage docs, the late payments and loan modification will affect her credit badly.

Thanks,

Jerry

Guest

My husband passed away in Feb,2011. We own our house jointly with both our names on deed. I was told to just send in copy of death cert and proof of ins. Does that sound right?

gmakerley · Posted: Wed Jul 13, 2011 10:04 am Post subject:

Smokey, is that what you were told by your lender's representative? If so, we can surmise that they know at least a little bit about what they're talking about.

Best wishes.

Guest

With BOA, is it possible to do a Simple Assumption by allowing my grand-daughter and her husband to assume the payments on my house. Would the
title to the property then be listed in their name, as well as BOA, rather than my name? I know that I would still be responsible for the unpaid balance in the event they default. Guess what I am asking is, if a title search was done, would it still show up in my name.

That, plus, does BOA allow Simple Assumptions of this nature?

adonis · Posted: Fri Jul 29, 2011 11:51 pm Post subject:

Welcome Marjorie,

Your query has been replied to in the given page:
http://www.mortgagefit.com/predeal/about52568.html

Take a look at it. I hope it will help you.

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