Posted on: 14th Apr, 2012 09:08 pm
Dad passed away and I found out he was the only one who signed the note, but both him and his wife signed the mortgage, deed, etc.
Whom is responsible for paying for the house? The estate or her if she wants to stay in the house which is already up for sale.
Can you please provide some insight as my estate attorney doesn't know exaclty how it should be handled.
Thanks
Whom is responsible for paying for the house? The estate or her if she wants to stay in the house which is already up for sale.
Can you please provide some insight as my estate attorney doesn't know exaclty how it should be handled.
Thanks
Welcome GuestIA,
If the wife's name is mentioned on the mortgage docs along with your deceased father, then she will be responsible for paying off the mortgage payments. However, if the property is sold off, then the mortgage can be paid off from the sale price received.
If the wife's name is mentioned on the mortgage docs along with your deceased father, then she will be responsible for paying off the mortgage payments. However, if the property is sold off, then the mortgage can be paid off from the sale price received.
Hi GuestIA!
Welcome to forums!
If the mortgage docs does not mention the wife as one of the borrowers of the mortgage loan, then your deceased father's estate will be liable for paying off the mortgage in full.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the mortgage docs does not mention the wife as one of the borrowers of the mortgage loan, then your deceased father's estate will be liable for paying off the mortgage in full.
Feel free to ask if you've further queries.
Sussane
Your Mother did not sign the NOTE, so, she is not responsible to pay the mortgage.
Your Mother signed the DEED which makes her an owner of the property.
Your MOTHER signed the MORTGAGE to give up her rights in the event of foreclosure.
If she does not make the monthly payments on the mortgage, the lender can and will foreclose unless the property is sold and pays off the mortgage.
If she wants to keep the house, she needs to make the monthly mortgage payments.
Your Mother signed the DEED which makes her an owner of the property.
Your MOTHER signed the MORTGAGE to give up her rights in the event of foreclosure.
If she does not make the monthly payments on the mortgage, the lender can and will foreclose unless the property is sold and pays off the mortgage.
If she wants to keep the house, she needs to make the monthly mortgage payments.
I have the same issue and my estate attorney told me since my dad was the only one on the note that the estate has to pay for the mortgage. The wifes name is on everything else, but the note. Any help would be greatly appreciated.
Hi Guest,
It is true that your father's estate will be liable for paying all the debts which are under your father's name. You won't be liable for paying it.
Thanks
It is true that your father's estate will be liable for paying all the debts which are under your father's name. You won't be liable for paying it.
Thanks
Thank you James Hogg!