Posted on: 03rd Nov, 2010 04:40 pm
My husband got a loan from a bank that was cosigned by his mother. However, my husband has passed away. Who is responsible for the loan my husband's estate or his mother that cosigned the loan?
Hi mmcs1,
Welcome to mortgage fit,
Firstly bank will try to recover the dues from the co-signer.But they can not touch your husband's estate legally.But most people try to save the property if deal is good and thus nominees pay off the mortgage and get the house saving from foreclosure.
If you have any plan to do it then you can surely exercise it.But According to me your husband's estate is safe.
Feel free to ask any further query if you have.....
DIPA
Welcome to mortgage fit,
Firstly bank will try to recover the dues from the co-signer.But they can not touch your husband's estate legally.But most people try to save the property if deal is good and thus nominees pay off the mortgage and get the house saving from foreclosure.
If you have any plan to do it then you can surely exercise it.But According to me your husband's estate is safe.
Feel free to ask any further query if you have.....
DIPA