Posted on: 20th Apr, 2009 02:13 pm
I lived with my mother to take care of her and pay her bills. when she died she willed me her home. I decided that I did not want the home so I stopped payments and notified the bank of her death. a month before I was to move out the house burned down. 4 months later we (4 children) were served papers that state we are being sued by the bank. can they make us pay for the home even though the bank had an insurance binder on the home?
Hi
If you are not on the loan, you cannot be held legally responsible for it. They cannot make you pay for the home. The bank served the papers to you, may be because you are the heirs to the property. They can foreclose on the property, but cannot take any legal action against you for non-payment of the loan.
If you are not on the loan, you cannot be held legally responsible for it. They cannot make you pay for the home. The bank served the papers to you, may be because you are the heirs to the property. They can foreclose on the property, but cannot take any legal action against you for non-payment of the loan.