Posted on: 07th Jul, 2012 08:36 pm
my aunt's husband passed away recently and had just informed me that he took out a home equity loan without her consent (both their names are on the mortgage).
the loan is somewhere in the range of $40,000 and he made only minimal payments.
he left no will and my aunt has no idea what the loan was used for.
what's going to happen? how was he able to take out the loan without involving her?
the loan is somewhere in the range of $40,000 and he made only minimal payments.
he left no will and my aunt has no idea what the loan was used for.
what's going to happen? how was he able to take out the loan without involving her?
Hi acdragonx,
If your aunt's name is mentioned on the mortgage docs, then she should have been informed by her husband. Nevertheless, now that he is no more and her name is mentioned on the mortgage docs, she will be liable for paying off the loan.
Thanks
If your aunt's name is mentioned on the mortgage docs, then she should have been informed by her husband. Nevertheless, now that he is no more and her name is mentioned on the mortgage docs, she will be liable for paying off the loan.
Thanks
Hi acdragonx!
Welcome to forums!
If your aunt's name is mentioned on the mortgage docs, then she will be liable for paying off the loan. She may take help of an attorney in order to sort out the matter. But there are high chances that the lender will ask her to pay off the loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If your aunt's name is mentioned on the mortgage docs, then she will be liable for paying off the loan. She may take help of an attorney in order to sort out the matter. But there are high chances that the lender will ask her to pay off the loan.
Feel free to ask if you've further queries.
Sussane