Posted on: 18th Oct, 2010 06:02 pm
My brother passed away and I am the heir/executor of his estate. BAC sent me the paperwork after my brother passed and I returned it with $100 fee. I just received a letter stating the loan terms do not allow assumption. Why did they send me the paperwork and ask for a fee? Any advice? The property was assessed at $800,000 and there is only $280,000 left on the loan.
hi aetsf!
welcome to forums!
i guess the lender had overlooked the fact that the loan terms do not allow assumption. you should contact the lender and ask him to return the $100 that you paid as fees. you can refinance the mortgage and get it transferred in your name once he returns the fees.
feel free to ask if you've further queries.
sussane
welcome to forums!
i guess the lender had overlooked the fact that the loan terms do not allow assumption. you should contact the lender and ask him to return the $100 that you paid as fees. you can refinance the mortgage and get it transferred in your name once he returns the fees.
feel free to ask if you've further queries.
sussane