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How death affects foreclosure proceedings?

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hello.

The beneficieries should get thier name on the mortgage and make the mortgage payments? Are you late on the mortgage payments?

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:44 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Yes, the person died two months behind and the will is a bit messing and probate will take a while. There are no available funds to pay the note without ownership/heirship being determined through probate so I was wondering if there were any rules or laws that could keep the house from being foreclosed on until things settled out. Perhaps wishful thinking on my part, as everyone wants to get paid.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:44 | Post subject:

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome cynthia.

I am not sure whether there is any such law or not but you should contact the mortgage company and inform them about the death of the owner. None wants foreclosure. It will be a huge loss on their part too. Can the beneficiaries [url=http://www.mortgagefit.com/refinance.html]refinance[/url] the loan on their names? If they can refinance and make the monthly payments then I feel the mortgage company will not foreclose.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:44 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If a homeowner has been foreclosed on and then they die whos property is it. The deceased person or the banks

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:44 | Post subject:

jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Kay,

It will be considered as the bank's property if the bank has already foreclosed it.

Thanks

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:44 | Post subject:

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