QUESTION
What must I do to resolve my ownership and end them requiring payments I thought I would not owe?
Asked on Dec 06th, 2012 on Estate Planning - Michigan
More details to this question:
I sent the death certificate and warranty deed to lender. I called but I was told that POA was invalid upon his death and they would review but I should continue payments on mortgage. Sixteen on time payments later, I’m broke and they still ignore me. I didn’t send the November payment and I got a letter addressed to deceased offering help or foreclosure!
8 ANSWERS
Sell it and pay the note.
Answered on Dec 07th, 2012 at 4:33 PM
Alternative Dispute Resolution Attorney serving Baltimore, MD
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Whiteford, Taylor & Preston L.L.P.
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If you were a joint owner with right of survivorship, then you already own the property. If not, then you need to open an estate for the decedent in order to transfer ownership.
Answered on Dec 07th, 2012 at 4:33 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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As long as payments are made, they cannot foreclose or force you to refinance. If you fall behind, you could lose the house. You do not want to let this happen if you can avoid it. I would suggest you meet with an attorney to help you figure out what is going on and what your best option is for moving forward.
Answered on Dec 07th, 2012 at 4:32 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It sounds as if you should have opened a probate estate to transfer the real estate. See an attorney for assistance.
Answered on Dec 07th, 2012 at 3:24 PM
Elder Law Attorney serving Hollister, CA
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Charles R. Perry
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You need to contact an estates and probate lawyer to resolve this matter. It is not clear from your question as to who owned the house. I assume, however, that the deceased person owned the house in its entirety. If that's true, then the property still belongs to the estate of the deceased. Until a probate is opened or title is transferred, there is no way to sell the property or refinance the debt. It also is not clear why you are making the payments, since those should have been made by the estate of the deceased.
Answered on Dec 07th, 2012 at 3:23 PM
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I am sorry for your loss. It is a shame that you personally made the payments. The property needs to go through probate. The power of attorney died with your parents.You should consult a probate attorney about going forward.
Answered on Dec 07th, 2012 at 3:23 PM
If your name is on the deed and on the mortgage and the person who died did not make you full owner upon death - there are several ways that could have been done but not by power of attorney that ceases to be effective upon death - the lender is under no obligation (1) to cancel the mortgage or accept a deed in lieu of foreclosure. You need to take your deed and mortgage to a lawyer or real estate expert.
Answered on Dec 07th, 2012 at 3:22 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Seek the assistance of a legal counsel experienced in foreclosure matters as well as probate of the property into your name.
Answered on Dec 07th, 2012 at 3:22 PM