my husband passed away last year, left no will, home loan was in his name only. Foreclosure o6/11/12 I am in process of becoming administrator to the estate. My name is on the deed.
Divorce / Separation Lawyer
You have to talk to an experienced real estate attorney NOW. There are way too many different issues that must be thought through to answer your question without sitting down and looking at all the documents. Email me at email@example.com and I will get you in touch with an attorney that can help. Do Not Wait!
There are a lot of issues to consider. First, you indicate that the loan was in your husband's name only. I presume that this means you signed the mortgage (collateral instrument) but not the promissory note (the document that makes you liable for the debt). If you did not sign the mortgage and you were on the deed at the time the mortgage was given, the lender will not be able to foreclose without jumping through a lot of hoops.
Second, what are your goals? Are you able to pay the overdue amount? If so, you may be able to "reinstate" the loan. If you are unable to pay the overdue amount, you can attempt to modify the loan. However, this may be difficult if you are not on the original promissory note.
All of the documents will need to be reviewed very quickly and you will need to talk with the lender immediately regarding your goals. If you would like to modify the loan (and you are eligible), the lender may adjourn the foreclosure sale to give you more time to work this out.