QUESTION
Can the bank foreclose on my deceased parents home equity if i am now the legal owner of the property?
Asked on Jan 11th, 2018 on General Practice - New Jersey
More details to this question:
i inherited my dads house when he passed in 2016. He had a home equity loan which i have been paying. it is getting harder to pay and i would like to get rid of it. am i responsible for this debt.
1 ANSWER
Yes, you are responsible for the debt. You don't just inherit assets; you inherit secured debt on the assets too.
Edward Zohn, Attorney at Law, 908.791.0312
Answered on Jan 22nd, 2018 at 5:46 AM