My mother put me on the title of her home but I’m not on the mortgage just the title and she has filed bankruptcy so the house Is not foreclose on. If she dies before the 304 meeting will I be still be able to keep the home.
Is this a reverse mortgage? If it is, the only way you can keep the property if your mother passes away is to pay off the mortgage at whatever amount is due now If it is not a reverse mortgage, are the mortgage payments being made? If not, the creditor will foreclose. If it is not a reverse mortgage and if you are making the payments, they will probably leave you alone. I recommend that you discuss the situation in detail with a knowledgeable financial services litigation attorney.
Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.
If your mother is still mentally competent, you need to have her sign a Durable Power of Attorney that is acceptable to the Bankruptcy Court. Hopefully your mom will live past that day. The only way that you will be able to keep the property is if this is a reverse mortgage, but you are also protected if she dies before the Section 341(a) meeting because of The Garn-St. Germain Act of 1982 carves out several exceptions that prevent the servicer from exercising the Due-on-sale Clause. These include: “a transferby devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; [or]… a transfer to a relative resulting from the death of a borrower; [or]… a transfer where the spouse or children of the borrower become owner of the property; [or] a transfer resulting from a decree of dissolution of marriage, legal separation agreement, or from incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property….”. Only a FL mortgage foreclosure defense and bankruptcy attorney has the expertise to prevent you from having more problems than you can possibly imagine. To properly answer your questions and address your concerns, the best way to handle this is with an in person consultation. You need to retain the best mortgage foreclosure defense and bankruptcy attorney you can afford. You should not be restricted by geographic factors. Pick the best lawyer you can find and remember one rule: a good lawyer is generally never cheap, and a cheap lawyer is generally never good so don't choose based on price. You should not be restricted by geographic factors. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE. This is merely suggestions for you to think about in discussing your situation with the local attorney.
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Your facts omit key items but the bankruptcy does not generally jeopardize your mother's home.
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