Posted on: 18th Apr, 2011 06:04 am
My husband died and we still have a huge mortgage. We are upside down on the property and i was thinking of letting it go. Can the mortgage company take my life insurance my husband left me in order to pay off the loan. My name is NOT on the mortgage loan or deed.
Hi woodman!
Welcome to forums!
The lender has the rights to foreclose the property if you don't make the payments on time. He can take your husband's life insurance policy in order to recover the balance amount resulting from the foreclosure sale.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The lender has the rights to foreclose the property if you don't make the payments on time. He can take your husband's life insurance policy in order to recover the balance amount resulting from the foreclosure sale.
Feel free to ask if you've further queries.
Sussane
>>Can the mortgage company take my life insurance my husband left me in order to pay off the loan.
No.
No.
