Posted on: 06th Apr, 2009 11:55 am
My Father just recently passed, and I am trying to help my mother get her affairs in order with the estate.
One of the issues at hand is that the mortgage seems to be in my fathers name only (according to the lender). However when looking at the mortgage and the HUD statement both signatures are on the documents.
The current mortgage holder has imlpied that my father is the only motgagee and that my mother cannot get any loan modification, or refinancinng. But they would be glad to send her a new mortgage application.
With both signatures present in the loan package, should the title be corrected? And if so, how should i tell her to proceed?
A new loan would not be beneficial, since my mother is 70 years old and will have half of the income as before.
One of the issues at hand is that the mortgage seems to be in my fathers name only (according to the lender). However when looking at the mortgage and the HUD statement both signatures are on the documents.
The current mortgage holder has imlpied that my father is the only motgagee and that my mother cannot get any loan modification, or refinancinng. But they would be glad to send her a new mortgage application.
With both signatures present in the loan package, should the title be corrected? And if so, how should i tell her to proceed?
A new loan would not be beneficial, since my mother is 70 years old and will have half of the income as before.
It really depends on how the mortgage is written. Is it in both names? is it this person AND that person, or this person AND/OR that person? DOe s it show rights of survivorship? Is the property part of a living trust?
It is best to call a lawyer or paralegal to help you. You might ask at a bank, too.
It is best to call a lawyer or paralegal to help you. You might ask at a bank, too.