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If your deceased father had a home equity loan are the heirs now responsible for paying it off?
Wiki User
∙ 12y ago
The heirs are not legally responsible for paying the loan. However, if they want to keep the property the loan must be paid or the lender will take possession of the property by foreclosure.
Wiki User
∙ 12y ago
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If there is no estate of deceased family member who is responsible for debt?
Generally, the estate is responsible for paying the debts of the decedent when the debts are in the sole name of the decedent. If there are no assets then the creditors are out of luck.
Can you take out a home equity line of credit with a cosigner?
Yes, as long as the co-signer is fully informed that if you stop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.
Are surviving children in Pennsylvania responsible for paying the mortgage debt of deceased parents?
The children are not directly responsible in Pennsylvania. The estate is responsible to settle all the debts. Until these have been paid, the children are not entitled to receive anything.
If your father and stepmother are both deceased and left their home to you and your siblings are you responsible for the mortgage or foreclosure of the property?
Because the property was not owned outright by the deceased persons being willed the property are responsible for the debt attached as well. If they do not want to take the financial responsibility of paying the debt or selling the property they can allow it to be included in the probate procedure and therefore are not responsible for foreclosure or other litigation connected to it. yes, you are responsible otherwise you lose the house you don not get it free just because someone dies. only the person named as heir to the house has to pay. just did this.
Can someone that has a home equity loan with a co-signer just sign the loan over to the co-signer?
No. A home equity is a mortgage and the lender owns the mortgage. The borrower cannot make any changes in the terms. Whoever signed the mortgage is responsible for paying the loan. If the loan isn't paid the lender will take possession of the property by foreclosure.No. A home equity is a mortgage and the lender owns the mortgage. The borrower cannot make any changes in the terms. Whoever signed the mortgage is responsible for paying the loan. If the loan isn't paid the lender will take possession of the property by foreclosure.No. A home equity is a mortgage and the lender owns the mortgage. The borrower cannot make any changes in the terms. Whoever signed the mortgage is responsible for paying the loan. If the loan isn't paid the lender will take possession of the property by foreclosure.No. A home equity is a mortgage and the lender owns the mortgage. The borrower cannot make any changes in the terms. Whoever signed the mortgage is responsible for paying the loan. If the loan isn't paid the lender will take possession of the property by foreclosure.
What if your dad had a home equity loan are the heirs now responsible to pay that off?
If your deceased father had a home equity loan are the heirs now responsible for paying it off IF THEY SELL THE HOME?
Are the parents of a deceased adult child with no estate responsible for paying unpaid debt?
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
What are the UK laws regarding the debts of a deceased person Who pays them off?
The estate of the deceased is responsible for paying all the deceased's lawful debts.
Who is responsible for paying taxes of the deceased?
His estate...which is actually him continued after death for business purposes. I have received a tax levy in my deceased husband old business account from 2004 Am I responsible
Who is responsible for paying your deceased mother bills in Alabama?
Your mother's estate is responsible. If you signed the paperwork on some items, you could be held responsible.
Are adult children responsible for paying deceased parents real estate taxes?
No, the estate is responsible for the medical bills of the deceased. Only after they are resolved can the estate be closed any remainder distributed.
Are daughters responsible for deceased fathers bills?
No, she should be held responsible. Typically the estate is responsible for paying the debts, including all the bills of the deceased. If the daughter has co-signed any paperwork regarding those bills, she may be held liable.
Are you responsible for paying the debt your deceased mother owes to the Department of Education?
No, but if she left an estate they may or may not collect it from it. But not you
Are father and stepmom responsible for child support?
The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.
If someone was paying back unemployment insurance and is now deceased is anyone else responsible?
No, no one else is personally liable for it.
If there is no estate of deceased family member who is responsible for debt?
Generally, the estate is responsible for paying the debts of the decedent when the debts are in the sole name of the decedent. If there are no assets then the creditors are out of luck.
In Texas is the wife of a deceased husband responsible for the husbands debt?
She is not directly responsible. The estate is going to be responsible. And since she will likely be getting the bulk of the estate, paying off the debt will reduce her amount.
