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I have been paying the mortgage on a home in my late husbands name and now can no longer afford to even though there are tennant

Stuart, FL |

tenants pay rent to me am i legaly bound to pay mortgage, mortgage is in my late husbands name and bank wont discuss anything with me

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Filed under: Foreclosure Probate
Attorney answers 4

Posted

Unless you signed the note, you have no legal obligation to pay the mortgage. If your late husband had any assets that were not owned by both of you, then it is possible that his estate, if he has one, could be responsible.

You need to see an attorney who is knowledgable about foreclosure and bankruptcy. The potential issues depend on what your objective is. If you want to retain the property, under the recent revisions to the HAMP program, you may be able to, since it is being extended beyond the primary residence. Furthermore, if you want to force the issue of the mortgage servicer speaking to you, the most straightforward solution is to open an estate, if one has not been opened, and then they have no ability NOT to speak to you. Furthermore, under the Garn-St. Germain Act, many courts, including in Florida, are determining that the widow or widower of a deceased borrower does have certain rights regarding the loan, and you might be able to obtain what you are after via a Chapter 13 proceeding.

Please understand that none of the above may be worth doing in your case, because it completely depends on the economics of the situation as well as the legal issues. So, you need to get some solid legal and economic advice in order to figure it all out.

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.

Asker

Posted

ty there is no estate his will left all to me and to have mortgage in my name bank tells me i need to go to probate but because my only income is widow benefits i am unable to do this. we had no debts when he passed away only the mortgage of which has never been defaulted on i have been told by realator that the home is now worth 30000 less than what i owe

Asker

Posted

i also am not concerned about retaining the property

Margery Ellen Golant

Margery Ellen Golant

Posted

You should still discuss with an attorney. If you don't want to retain the property, there may still be ways you can benefit financially, and it sounds like that would be very important under the circumstances you describe.

Asker

Posted

Check with the clerk of courts. To see if you are on the mortgage.

Asker

Posted

thank you Margery but under the circumstances i am unable to afford an attorney or to go to probate also i know i am definatly not on the mortgage overpayments i payed into escrow were returned by check to the estate of and there is no estate

Posted

Take the estate to probate and get the ownership clarified.

Posted

You are not obligated to pay a mortgage for which you did not sign the note. You should consult with an attorney to discuss this situation in depth.

The contents of this answer should be considered friendly advice, not legal advice and the answer should not be construed to constitute an attorney-client relationship. If you'd like actual legal advice, call me at 954-567-4100. Also, if you liked this answer did, be sure to click the thumbs-up button

Posted

You are not obligated to pay the mortgage. However nonpayment will result in the Bank foreclosing on the property. If there is sufficient equity in the property (fair market value minus loan balance), or there are other assets that need to be re-titled, you should consider speaking with an attorney to discuss your rights in the administration of your husband's estate. Once you have Court appointment as Personal Representative, the Bank will begin discussions with you about the loan.

Answers to questions on this site are not intended to be specific legal advice nor create an attorney-client relationship. Hiring an attorney is a very important process which requires a high degree of diligence as well as entering into an agreement regarding the services to be provided and the fees to be charged.

Asker

Posted

thank you Lawrence realator has told me i owe more than the house is worth now and there are no other assets at all

Lawrence Jay Davis

Lawrence Jay Davis

Posted

You are welcome. If you uncover any other assets, then call an attorney to discuss filing an estate. Note the Tenant and you will both likely be served with the Bank's lawsuit to foreclose its mortgage when the payments are no longer being made.