Asked in LoansMortgagesEstatesReal EstateMoney Management
If you are the son and executor of your parents' estate can the mortgage lender force the sale of the real property after finding out your parents are deceased being the original borrowers on note?
November 13, 2005 10:03PM
No! That's what a Probate is. Usually lawyers will do the leg work for Probate and this means they will be sure all titles are clear on homes(s) or properties. They also make sure all creditors are paid off and this includes property/personal taxes. mortgages and loans. Because of Probate the mortgage lender would be paid out of the Estate and the residue of that Estate would be left to the Heirs. Marcy