Posted on: 21st Oct, 2009 06:04 pm
hello, My brother and my stepfather bought a house then my stepfather died and my brother moved out and let it fall in to foreclosure, now the bank is coming after my brother and my mother in an attempt to get money. My question is does my mother have to worried about them taking her house or pushing her farther in to debt because of this situation. She did not co sign for the house she never signed anything involving it my stepfather purposefully left her out of it. Yet the bank is naming her as a defendant in the case against my brother and my stepfather.
If the mortgage is not in her name then she has no liability to pay it. The bank can go after the home though irrespective of who's living there as it is the security on the loan which has lapsed.
Thank you for your answer. just to clarify, when you say "the bank can go after the home" you mean the home my brother and step father purchased? Or do you mean my Mothers home?
Hi tcrist,
As your mother did not co-sign on the mortgage debt, she is not responsible for it. The bank cannot come after her personal assets. They can foreclose on the house purchased by your brother and your step-father, because it is the collateral for the mortgage debt. But they can never go after the house owned solely by your mother.
As your mother did not co-sign on the mortgage debt, she is not responsible for it. The bank cannot come after her personal assets. They can foreclose on the house purchased by your brother and your step-father, because it is the collateral for the mortgage debt. But they can never go after the house owned solely by your mother.
Thank you very much.
Hi tcrist,
You are most welcome. :)
However, if you have further queries, feel free to ask the community.
You are most welcome. :)
However, if you have further queries, feel free to ask the community.