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4 Bumps

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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Michigan-Mom74

Asked by Michigan-Mom74 at 11:47 PM on Nov. 16, 2012 in Home & Garden

Level 34 (66,339 Credits)
Answers (14)
  • 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.
    Dardenella

    Answer by Dardenella at 11:57 PM on Nov. 16, 2012

  • 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.
    luvmygrandbaby

    Answer by luvmygrandbaby at 12:16 AM on Nov. 17, 2012

  • Have you been paying the mortgage?
    Dardenella

    Answer by Dardenella at 11:51 PM on Nov. 16, 2012

  • 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!
    luvmygrandbaby

    Answer by luvmygrandbaby at 11:54 PM on Nov. 16, 2012

  • Wow, that's terrible. I hope it all works out for yu.
    Ballad

    Answer by Ballad at 12:22 AM on Nov. 17, 2012

  • Did his dad leave the house to him in the will? You DH needs to talk to the mortgage company.
    louise2

    Answer by louise2 at 6:13 AM on Nov. 17, 2012

  • You need to make an appt, with an Estate lawyer to protect your interests. If there was no will, then maybe there was a Survivorship deed granting the house to your husb. Don't let the bank bully you, b/c believe me, they will try. Most are underhanded. I've seen nice people who were doing all the right things, get screwed by these greedy bastards. Don't let that happen. Call your local bar assoc. for a good referral. GL!

    mrsmom110

    Answer by mrsmom110 at 6:38 AM on Nov. 17, 2012

  • I would check with a lawyer. If the mortgage is not paid off, and you can't get financing, then I would imagine they could take the house - same as they would if his father was still alive and stopped paying. That mortgage won't go away just because he passed. And I'm fairly certain that at some point, the account of a dead person has to be closed out, so you can't just keep paying on it forever.

    I would talk to a lawyer and take any and all paperwork you have relating to it. Make sure there's no insurance that will pay it off, and maybe see if they can help you figure out something to do with your credit that might make it more likely for you to get financed.

    Good luck!
    wendythewriter

    Answer by wendythewriter at 7:58 AM on Nov. 17, 2012

  • I do not know. Maybe you could call. The Bar Association and ask for a lawyer specializing in Estates. You will be able to get a 30 minute consult in person for 25 dollars
    booklover545

    Answer by booklover545 at 8:51 PM on Nov. 17, 2012

  • Dardenella...Yes he has...

    luv...Ya me to
    Michigan-Mom74

    Comment by Michigan-Mom74 (original poster) at 11:56 PM on Nov. 16, 2012

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