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mothers mortgage who passed away?

Date: Thu, 01/17/2008 - 11:09
Submitted by taksmom476 on Thu, 01/17/2008 - 11:09
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My mother just passed in November .A few months prior to her death she moved to an apartment due to financial difficulties( taxes and such on house).The month she moved her bank also got sold and switched to a new name.As of now I'm farely certain her mortgage is in default by 6 months.

Just a few questions maybe someone here could clear up for me.1 is what now happens to the house as she had no insurance on it in event of her death. 2.When I went to the bank to close her checking account I had them check on it for me and they could not find anything with her having a loan with them.I know they should have it on files because her new mortgage payment book was from the new bank.

Also all her mail is forwarded to my home and as of yet I have not recieved anything regarding forclosures or anything even about late payments..I'm just a little confused on all this It almost as if her home and mortgage doesnt exsist.


In a perfect world the house would be sold by the bank and any remaining money owed would have to be collected by a lien filed against her estate. It may take the bank a year to figure out whats going on because of the sale to another bank. One question is how long was she in the house and was there equity in it. The house could be worth alot more then is owed. Did your mother have private mortgage inurance attached to the motgage?


Submitted by Frogpatch on Thu, 01/17/2008 - 11:16

Frogpatch

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Well the house has been in my family for 50 yrs .It was my grandparents then left to my mom, But it had been refinanced a few times by my grandparents so when my mom got it she had to continue paying then about 7 yrs ago she refinanced, but in doing so the taxes and such werent included this time. I know she paid her fire insurance to a different company but as for any other type of insurance if she did i wasnt aware of it. As for equity I highly doubt it .Over the years its gotten kind of run down.I'm just trying to possibly get a time period I have to get the stuff out of the house I need to. My husband is slowly trying to do it because I cant bring myself to go in yet. All I know is my mom had said when anything happened to her Everything was left to me.But she had no will,but i remember my brother before he moved out wanting her to change it to him,but like i said as far as i know she had no insurance on it and I really dont think she had anything in writing anywhere it was just her saying.


Submitted by taksmom476 on Thu, 01/17/2008 - 11:26

taksmom476

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