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Who is responsible for a loan in deceased husband's name. Do I have to pay bank loan if house is in my name?
Wiki User
∙ 13y ago
The estate is responsible for paying the debts of a decedent. However, in the case of a mortgage, the decedent transferred an interest in the property to a lender in exchange for money. That means the decedent didn't own the property when he died. If you want to keep the property you will need to take over the payments. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
If the loan is not a mortgage then generally, the creditor cannot attach any unpaid debt of your husband's to your home. However, the estate should be probated. You should consult with an attorney who specializes in probate.
Wiki User
∙ 13y ago
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How do you find the name of your deceased husbands bank?
There's an apP for that
Who is resposible for the loan if the title is in the deceased name only?
The estate is responsible for the loan. If it is not paid the bank will take the property.
Can a wife sign her husbands name on his bank account?
No
What happens to homes when parents are deceased and still owe the bank?
In some cases the loan customers would have some type of insurance that would protect the deceased persons family in case of his unexpected demise. If so the insurance proceeds would be used to pay off the mortgage and the family members would retain the house. If that is not the case then, the bank can ask the survivors of the deceased to pay off the loan. Which if they fail, the bank can take posession of the home, sell it and recover its loan amount.
Are you responsible to pay the mortgage after foreclosure?
No. The bank owns the house after foreclosure. But your credit report will take years to fix. Good luck.
Are spouses responsible for a deceased husbands bank loan with several co-signers?
Are spouses responsible for a deceased husbands commercial bank loan with several co-signers?
How do you find the name of your deceased husbands bank?
There's an apP for that
Your deceased husband co sign for a house note for his son but you did not sign his son is letting it go back to the bank will be responsible?
You can be sued from the bank or creditor
In California is the surviving spouse responsible for deceased husbands auto loan?
The estate is responsible for the loan. If the spouse wants to keep the car, they may have to assume the loan, if the bank allows them to. Otherwise the vehicle may have to be sold.
Who is responsible for a deceased person credit card?
Bank's Insurance company
Who is resposible for the loan if the title is in the deceased name only?
The estate is responsible for the loan. If it is not paid the bank will take the property.
Who is responsible for a deceased parent's bank loans?
The parent's estate is responsible for the loans. If there are no cash assets to pay the loans the lenders will take the property such as real estate or a vehicle.
Can a deceased person earn dividends on a bank account?
The estate can earn dividends on a bank account. The executor is responsible for making sure this happens and it gets included in the estate.
Is a surviving spouse responsible for the deceased spouses loan in Georgia?
no if they die the money they are owed will be taken out there bank account the remaning will be given out according to there will
Can the bank go after kids of deceased owner for a foreclosure you are the daughter and the bank published a public notice listing you a defendant?
Get A Lawyer!The bank can name any person named on legal documents relating to the default / foreclosure. Weather you can be held responsible is up to the court.The bright light is that if you are not responsible and the bank was malicious the bank could end up owing you money.Get A Lawyer!
What will foreclosing bank do with house contents when owner is deceased and no heirs?
I would assume the Public Trustee or the Bank would have to auction the goods off either with or separate from the house and the proceeds would go towards repayment of the loan.
Who is responsible for payments when creditor deceased?
Normally this would fall to the Executor of the Deceased Estate. It is the responsibility of the Executor, to collect all payments and settle all debts of the Deceased. the deceased person's husband or wife.....if they weren't married then the property that the loan is for gets returned to the bank, which technically still owns it because the loan wasn't fully repaid.
