Posted on: 06th Mar, 2008 10:44 pm
My sister passed away last Feb 1. She owned a townhouse. Her interest rate will be resetting this month. The value of the house is 50 thousand lower. Her husband is not in the mortgage or title. He doesn't want to keep the house since he cannot afford to pay monthly payment. My sister doesn't have any asset.
Thank you,
Thank you,
Hi glotaduran,
I am sorry to hear about your sister. Are you on the deed of the house?
As you sister has passed away and the value of the house is less than the amount owed in the mortgage, I think you do not want to take the responsibility of the house. Even her husband also does not want to "to keep the house since he cannot afford to pay monthly payment". So even it goes for foreclosure it will not affect you credit and you will not be responsible to pay anything.
Best of luck,
Larry
I am sorry to hear about your sister. Are you on the deed of the house?
As you sister has passed away and the value of the house is less than the amount owed in the mortgage, I think you do not want to take the responsibility of the house. Even her husband also does not want to "to keep the house since he cannot afford to pay monthly payment". So even it goes for foreclosure it will not affect you credit and you will not be responsible to pay anything.
Best of luck,
Larry