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Anyone here familiar with what happens when a parent dies and their child moves in???
I thought my husband called the mortgage company Chase and told them his dad died and he inherited the home. Can the bank take back the house?? I know neither one of us will qualify for refinancing. I ma scared the bank will take our home, and we have no where to go, and our credit suck enough we will not get into a decent apartment complex. I am gonna kick my husband ass soon as he gets back from hunting for not doing this!!!
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Have you been paying the mortgage?Found an answer to your question?
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can you even give something away thats not really yours? If its still owed on you cant always transfer ownership, they may very well be able too even if you have been making the payments. Hope not, good luck!Found an answer to your question?
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Dardenella...Yes he has...
luv...Ya me to
Comment by Michigan-Mom74 (original poster) at 11:56 PM on Nov. 16, 2012
Credits: 57612 Level 33
Home & Garden 101
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As long as the mortgage is up to date they can not take the house. They can call the note due since the owner has died. You then have a certain length of time to sell the house or get financing . Either way the bank get their share first.Found an answer to your question?
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Also you need to check and see if he had insurance on the house so that it would be paid off upon his death. I assume you have paid the taxes on anything you inherited because the IRS WILL take you home.Found an answer to your question?
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Yes, the payments are current, well this last was late cause of the post office screwed up, but the payment was sent.
Yes the taxes have been paid for this year.
Comment by Michigan-Mom74 (original poster) at 12:02 AM on Nov. 17, 2012
Credits: 57612 Level 33
Home & Garden 101
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I know that when my grandma passed, the bank got the Death Certificate- she had done a reverse mortgage and they gave my parents 30 days to sell or pay them and then they were taking the house. It was a good thing she had only used 7500 of the loan against it or they would have lost it. Sorry for the negatives here, just sharing what I have seen.Found an answer to your question?
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Wow, that's terrible. I hope it all works out for yu.Found an answer to your question?
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Well thanks ladies, the info was great, and real. I rather get the truth then sun shine blown up my ass! lol
Comment by Michigan-Mom74 (original poster) at 12:54 AM on Nov. 17, 2012
Credits: 57612 Level 33
Home & Garden 101
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Did his dad leave the house to him in the will? You DH needs to talk to the mortgage company.Found an answer to your question?
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