My husband passed away and his name is on the deed with mine but not on the mortgage. Can his creditors come after me and take my house for his unpaid bills that are in his name only?
Sep 23, 2020 10:46:06
Hey, Tina!
We are sorry about your loss. Unfortunately, in many cases when people pass away, the estate is everything that they own. After death, if there are any debts left on the behalf of the deceased the lenders have the right to get paid from the estate. There are multiple scenarios that can happen and most commonly the heirs, take over the loan. Heirs can also refinance the mortgage or if there is a reverse mortgage on the property, the heir will inherit the home after the reverse mortgage balance is paid. In all the mentioned situations the lender has to get paid for the remaining debt. Even if the mortgage is paid and there are other unpaid bills on behalf of the deceased, since the house is the only significant asset left behind, some states might require you to sell it in order to pay non-mortgage debts.
Short-term leases are leases that run its completion in a faster time than regular ones.In real estate, short term-leases usually refer to temporary housing; that is: rent.The length of a ...
The definition of adjoining properties describes two or more real estate properties, lots, or parcels that shared a boundary. A property that shares a common border with another is ...
The geographic moving of an individual from one region to another usually because of a change
in employment. Relocation normally involves the complete moving of the individual's ...
Unequal treatment and denial of opportunity to individuals based on race, color, creed, nationality, age, or sex. The Civil Rights Acts passed by the U.S. Congress included those of 1866, ...
In 2020, our financial lives revolve around our credit scores. Want to buy a car? Better have good credit! Want to lease a house? Good credit is a must. Applying for a new credit card? ...
Maryland is one of the US states with really low poverty rates, densely populated, and high standards of living. Being close to the capital of the US and having a prosperous economy is ...
If you have a family, or a job that just doesn’t pay that well, chances are your first concern when moving to a new city is its cost of living. You’ll probably research the ...
Who wouldn’t want to enjoy the Great Smoky Mountains up, close, and personal every day they wake up? Gatlinburg, this incredible mountain resort city in the heart of Tennessee, fully ...
With an increasing population that has been on a steady annual growth rate of around 1% ever since the 2000s, Greensboro has been a destination many people chose to put down roots. ...
The first answer that comes to mind when someone asks how does where you live affect how you live is: do you have a lot of spare time? Because this one takes a while to answer…
Like ...
Take a look at what happens when a massive storm hits a secular forest. Now imagine an earthquake. Now a tornado. Maybe even a tsunami. All these are Acts of God that we all fear but have ...
Located in North Carolina, the town of Cary has a population of about 170,000 people, and it is known to be one of the hottest small cities in the East. The city is continually growing, and ...
Find a Real Estate Agent
Read why Real Estate Agent rates 5 Stars in over 20 Agents Reviews
Comments for Et Con
My husband passed away and his name is on the deed with mine but not on the mortgage. Can his creditors come after me and take my house for his unpaid bills that are in his name only?
Sep 23, 2020 10:46:06Hey, Tina!
We are sorry about your loss. Unfortunately, in many cases when people pass away, the estate is everything that they own. After death, if there are any debts left on the behalf of the deceased the lenders have the right to get paid from the estate. There are multiple scenarios that can happen and most commonly the heirs, take over the loan. Heirs can also refinance the mortgage or if there is a reverse mortgage on the property, the heir will inherit the home after the reverse mortgage balance is paid. In all the mentioned situations the lender has to get paid for the remaining debt. Even if the mortgage is paid and there are other unpaid bills on behalf of the deceased, since the house is the only significant asset left behind, some states might require you to sell it in order to pay non-mortgage debts.
Sep 28, 2020 12:47:37Have a question or comment? We're here to help.