Posted on: 11th Sep, 2013 10:50 am
My uncle co signed on a home loan for a grand neice. He passed away in Febuary of 2012 and at that time the loan was up to date. Several months latter the grand neice quit making payments and the house is being forclosed on. My uncle had a trust that spelled out everything he wanted done but no mention of this loan. Is the trust responsable for the loan? The bank says no but our trust lawer says yes. We just want to get this trust done and closed ASAP. It's been a long year and a half.
Hi bob!
Welcome to the forums!
As your uncle co-signed for the loan, the lender may come after his estate to recover the dues if it is not being paid on time.
Sussane
Welcome to the forums!
As your uncle co-signed for the loan, the lender may come after his estate to recover the dues if it is not being paid on time.
Sussane
Yes, the trust can be used for paying the loans.