Am I responsible for this debt?

Author Message
Icon Mini Profile thewalleys




Joined: 19 Aug 2008

Posts: 1

1.41 Dollars($)
PostPosted: Tue Aug 19, 2008 2:48 pm    Post subject: Am I responsible for this debt?

Hello,
In 1998, my husband at the time and myself bought a mobile home. I was not listed on the mortgage and did not sign anything regarding the purchase of this home. There was no land or any other collaterial put up against this home. My husband passed away in May 2004. After his death payments were made on the home for about a year and then I moved. The mortgage company repossessed the home and sold it at auction. Now (two years later), the mortgage company is sending a letter to the estate of my deceased husband and demanding the remaining balance on the home. He did not have a will and didn't have anything of value at the time of his death. I live in Mississippi. My question is, can the mortgage company hold me responsible for this money?
Icon Mini Profile brian1
brian1
Community Experts
Community Experts


Joined: 14 Jun 2008



Posts: 361
Location: Northern California
0.65 Dollars($)
PostPosted: Tue Aug 19, 2008 9:40 pm    Post subject:

I do not think so but would advise speaking with an estate atty.

Good Luck
Brian

_________________
Licensed Broker 50 states
http://www.aimwithfocus.com
Need quick advise email or PM Glad to help
vicky

Guest






PostPosted: Wed Aug 20, 2008 9:52 am    Post subject: liability

hello;

if we bought a house but the loan is not under my name but on the title of the house, what is my liability if we let go of the house.

_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile larry




Joined: 27 Jun 2007

Posts: 3328

474.61 Dollars($)
PostPosted: Thu Aug 21, 2008 6:01 am    Post subject:

Hi Vicky.

Welcome to the forum. As the loan is not on your name you should not have any big impact on your credit report. And you are not liable to pay the deficiency judgment.

Best of luck,
Larry
Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit Live Help

Explore the lender near you

Google Map Image

MF Talk



DebtConsolidationCare    Insurance community: We Make You Insurance Smart    CreditMagic: Helping you build up credit


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