How death affects foreclosure proceedings?

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Icon Mini Profile cynthia021970





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Post Posted: Fri Aug 01, 2008 6:32 am    Post subject: How death affects foreclosure proceedings?
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What are TX laws, if any, to avoid foreclosure when the home owner died and the will still has to be probated?--no operating capital to pay mortgage?
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Post Posted: Sat Aug 02, 2008 5:18 am    Post subject:
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Hello.

The beneficieries should get thier name on the mortgage and make the mortgage payments? Are you late on the mortgage payments?
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Post Posted: Sat Aug 02, 2008 5:22 am    Post subject: death and foreclosure
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Yes, the person died two months behind and the will is a bit messing and probate will take a while. There are no available funds to pay the note without ownership/heirship being determined through probate so I was wondering if there were any rules or laws that could keep the house from being foreclosed on until things settled out. Perhaps wishful thinking on my part, as everyone wants to get paid.
Icon Mini Profile Niicss
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Post Posted: Sat Aug 02, 2008 5:40 am    Post subject:
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Welcome cynthia.

I am not sure whether there is any such law or not but you should contact the mortgage company and inform them about the death of the owner. None wants foreclosure. It will be a huge loss on their part too. Can the beneficiaries refinance the loan on their names? If they can refinance and make the monthly payments then I feel the mortgage company will not foreclose.

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Kay puschel

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Post Posted: Tue Apr 24, 2012 9:36 pm    Post subject:
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If a homeowner has been foreclosed on and then they die whos property is it. The deceased person or the banks
Icon Mini Profile jerry
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Post Posted: Thu Apr 26, 2012 2:41 am    Post subject:
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Hi Kay,

It will be considered as the bank's property if the bank has already foreclosed it.

Thanks
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