Posted on: 17th Feb, 2010 02:30 pm
My grandmother passed away and as far as I know did not have a will. She also did not complete power of attorney paperwork. My mother was living with her at the time she died and still lives in the house, which has a mortgage. The mortgage is still in my grandma's name and my mom makes the payments, but now she wants to move possibly out of state. What can she do to get out of the mortgage? She has one brother who is a mentally ill vietnam vet who is under her care/responsibility when he's not in the hospital. I'm not sure if she's legally the heir to the property, on paper anyway, or if she'd have to get her brother to sign something saying she can have the property. Any advice would be great.
Thanks
Thanks
Hi Lilitaly,
You have mentioned that the mortgage as well as the property is still in your grandmother's name. In that case, your mother is not personally responsible for the home loan. Thus, she doesn't need to do anything in order to get out of mortgage because she is not on the mortgage docs. However, if she intends to save the property, then she will have to keep on making the payments. If the lender does not receive his dues, he would simply foreclose the property.
You have mentioned that the mortgage as well as the property is still in your grandmother's name. In that case, your mother is not personally responsible for the home loan. Thus, she doesn't need to do anything in order to get out of mortgage because she is not on the mortgage docs. However, if she intends to save the property, then she will have to keep on making the payments. If the lender does not receive his dues, he would simply foreclose the property.