1) Unfortunately until the loan
is paid off interest keeps accruing pursuant to the mortgage agreement.
2) Under the Parol Evidence Rule, which is part of the Statute of Frauds
, any verbal agreement purporting to change a written contract
is invalid and any evidence of any such oral agreement cannot be introduced in court to change the terms of the written contract.
3) If the debt is still in the name of your father and is still part of the estate then as the heir you are not personally liable for that debt unless you actually have already taken property from the estate and then they could seek to hold you liable on the loan as executor for not paying the loan as one of the debts of the estate prior to making a distribution of assets. If you have not taken anything from the estate, then if they take the home, that is something that would not go on your credit as it is not in your name and SSN.
4) There is something missing to that story. Medicaid can take the house and if the home was signed over as collateral the nursing home can take it to pay the debt, but when the house is sold to pay the debt anything in excess of the debt must be given back to the heirs/estate.
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