QUESTION
How do we complete this transfer of a home (and the associated mortgage and HELOC) from an estate to the daughter of the deceased?
Asked on Apr 02nd, 2020 on Wills and Probate - Kentucky
More details to this question:
Following are the details: The deceased left the home to Kelly (daughter) who had been caring for the deceased for five years. Bank of America restructured the 1st mortgage and transferred the mortgage note to Kelly. But Commonwealth Credit Union will not transfer the HELOC ($12,000) to Kelly because they say her financial position and income do not qualify her to take over the HELOC loan. Despite Kelly regularly making the HELOC payments the Commonwealth Credit Union are threatening foreclosure. Are there any laws that can help Kelly move the credit union to transfer the HELOC to her?
1 ANSWER
2 Awards
Not likely. If she is not able to refinance, she (or someone) must pay off the loan.
Answered on Apr 03rd, 2020 at 5:06 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.