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Can I do a Homestead at the age of 53?

Posted on: 03rd Feb, 2009 09:27 pm
I wrote in the wrong spot. I am 53 yrs old and my husband just passed 2 mths ago. My husband took out an equity-line in his own name and sig. The pymts were coming out automaticly from the cking. acct. the bank sent me a letter and said that I had no access to it because I was not named on the loan. Am I responible for this and can they add this to the mortage of the house, and the main question is am I able to do a Homestead? Tks for your reply. Martha

It's sad to hear about your husband's death. May his soul rest in peace.

"Am I responsible for this and can they add this to the mortage of the house?"
Coming to your query, you're not responsible to pay off the line of credit or Heloc. But you may lose the home which may have been kept as collateral for the Heloc.

By the way, who's on the mortgage? Is your husband's still there on the loan?

Regarding filing homestead, you can't do so till you're 65 years or older.

Take care
Posted on: 04th Feb, 2009 02:09 am
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