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WALLSTREETFIGHTER
WALLSTREETFIGHTER, Attorney
Category: Legal
Satisfied Customers: 17080
Experience:  14 years experience in representing clients, current member of legalshield, legal club of america, NYSUT and UFT attorney
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My husband passed over a year ago. The last mortgage was soley

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My husband passed over a year ago. The last mortgage was soley in his name because he believed at the time the house was not an asset but a debt. At the time of his passing he had quite a bit of credit card debt and the home was paid to date but about even as to what we could have sold it for as what he owed. I was the beneficiary on all life insurances and retirement accounts. He had a will naming me beneficiary of all assets but it turns out it was not valid as the last signing was not in a lawyers presence. I paid the first 2 months of the mortgage and equity loans not knowing any better. The house is now in the foreclosure process. The bank won't speak with me despite numerous death certificates sent . Do I have any rights to the home without spending 10,000.00 to go to probate only to perhaps proove it is not an asset and am I req to pay
the credit card debt that was solely in his name ?. I paid all joint debt.

WALLSTREETLAW :

Hello I am a licensed attorney. I am here to help answer your questions. Please do not hesitate to ask for clarification

WALLSTREETLAW :

Were you on the deed?

WALLSTREETLAW :

In terms of the debts,

WALLSTREETLAW :

if they are all in your husbands name, only he would be liable, and his estate would be liable,

WALLSTREETLAW :

in regards XXXXX XXXXX home, if the property is not in your name,

WALLSTREETLAW :

and mortgage is not in your name,

WALLSTREETLAW :

you would have to go to NY Surrogate court to become his administrator, the fee is limited, and you can do this by yourself,

WALLSTREETLAW :

once appointed, you can work out an arrangement with the lender,

Customer:

no I was not on the deed. I do have the deed and there is one part where it states if the party is married even if I'm not listed as an obligator that I should have signed but I don't see that anywhere and we were married at the time.

WALLSTREETLAW :

You are not required to pay any of his debts,

WALLSTREETLAW :

If your name is XXXXX XXXXX the deed, it would be an issue, but through probate court, you can become the administrator of his estate and transfer the deed into your name if you want to keep it,

Customer:

My concern about surrogate court is if more is owed on the house that what I could sell it for I would then be obligated to pay the debt and the mortgage which is a over 3,500 a month that I don't have

WALLSTREETLAW :

that is a good point,

WALLSTREETLAW :

if you do not want to live in the home, you may want to consider letting it go,

WALLSTREETLAW :

and since your name is XXXXX XXXXX the mortgage,

WALLSTREETLAW :

they cannot come after you

Customer:

Would the asset of the house be then minus the debts in his name ? In which case it is all really under water anyway.

WALLSTREETLAW :

yes,

WALLSTREETLAW :

what would happen is if you become the administrator, any profit from the sale of the home, would have to pay his debts,

WALLSTREETLAW :

so at this point, it is better, not to do this,

Customer:

Thank you. I don't know why I needed to hear this one more time . I think my only choice is to really walk away. St vincent dePaul is coming shortly to pick up furniture after that I do have to close my eyes and go. thank you again

WALLSTREETLAW :

Good luck,

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