Mortage of deceased

Date: Wed, 02/04/2009 - 07:08

Submitted by on Wed, 02/04/2009 - 07:08

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My mother in law recently passed away. She has 7 children and she had alot of debt. Our attorney advised us not to file for probate and wash our hands of it. We were living with her at the time of her passing and still reside in her home. The mortgage company has contacted and is willing to let us to pay payments until we are able to get a loan. Is it that simple? I dont want to pay for something that we can never purchase.

Total Replies: 3

Condolences on your loss, it is never easy. What did your lawye

Condolences on your loss, it is never easy. What did your lawyer say? I would assume that if you (or anyone) were to inherit your deceased mother-in-laws home, you would also inherit ALL of her debt, which is probably what your lawyer was trying to tell you. But the lawyer could clarify it for you.

Submitted by smo65d11 on Wed, 02/04/2009 - 07:33

smo65d11

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Dont see how they would inherit all the debt....any pro

Dont see how they would inherit all the debt....any proceeds from the sale of the home would pay off any debt. If no proceeds, the debts wont get anything.

Submitted by SOAPLADY on Wed, 02/04/2009 - 15:30

SOAPLADY

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that is assuming that the mortgage company is foreclosing, and t

that is assuming that the mortgage company is foreclosing, and then giving them "first dibbs" on buying the home on the courthouse steps. It sounded to me like the mortgage company was allowing them to pay the payments as-is, and then assume the loan when they qualify? Maybe I totally misunderstood though?

Submitted by smo65d11 on Thu, 02/05/2009 - 09:57

smo65d11

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