QUESTION
do i have to pay back my deceased parents home equity loan.
Asked on Jan 15th, 2018 on General Practice - New Jersey
More details to this question:
last year I inherited my deceased parents house. a title search was done and no liens were found. so they issued the deed to my name. now the question is do i have to pay the home equity loan that is in there name. and if i decide to stop paying for it can the bank foreclose on the property even though it now belongs to me.
1 ANSWER
Criminal Defense Attorney serving Toms River, NJ
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Edward J. Dimon
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The key to the answer is the home equity contract your parents signed and the possible lien against the property as a result of this home equity contract. The norm is that the bank would have a lien placed against the property. The lien would have to be satisfied. Please call to discuss. Ed Dimon, Esq. 732-797-1600
Answered on Jan 29th, 2018 at 8:18 AM