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Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 37357
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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my mom passed away. i am her only child. the bank wont accept

Customer Question

my mom passed away. i am her only child. the bank wont accept payment from me & now theyre foreclosing on my home. how do i go about stopping this & save my home ?
Submitted: 4 years ago.
Category: Estate Law
Expert:  Barrister replied 4 years ago.
Hello and thank you for using JA! My goal is to provide you with excellent service and help with your legal problem.
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Why is the bank refusing to accept payments?
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Was she far behind on her mortgage payments?
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Are you able to pay off any delinquent amounts that may be due to cure the default?
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Is the house and loan in mother's name only?
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Thanks
Barrister
Customer: replied 4 years ago.

hi , really appreciate your help. originally the house & loan was in both our names. at some point she took my name off . the bank is saying that they dont recognize me as being someone authorized to make payments on behalf of my mother. when they refused payment i was only two months behind on the mortgage. at that time, i did have the funds to get caught up.

Expert:  Barrister replied 4 years ago.
Ok, under federal law, the lender can't accelerate the loan simply because a child inherits a home with a mortgage in the parent's name. However, the law does provide an exception if the loan is in default as the lender can then foreclose just like with any mortgage in default.
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With that said, if your name is not on the deed, you would need to file a petition to open a probate case for mother and be appointed Administrator of the estate. Then you would have the legal authority to act on behalf of the estate and make any payment to cure the default and reinstate the loan. But if the loan is only in mother's name, the bank won't recognize you as being able to act until you are formally named as Administrator.
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In FL, you are required to have an attorney assist with a probate case so the sooner you get one on the case, the sooner you can get appointed Admin, cure the default, and stop any foreclosure action.
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Thanks.

Barrister

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If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 4 years ago.

they are saying the house is scheduled for a foreclosure sale on 07/03/13. i also have a letter from the bank saying that i am authorized to "discuss the account". is there anything i can do to stop the sale ? if so , what steps do i have to take ?


 

Expert:  Barrister replied 4 years ago.
Well, if the house is scheduled for sale on July 3 then this has been going on for a while because it takes several months for a foreclosure to go through from start to finish.
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So if the sale is scheduled for tomorrow, you are really cutting it close in trying to do something...
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With that said, you would have to get the bank to agree today to cancel the sale if it is set for tomorrow. If this is a local bank, I would suggest going down to the bank and speaking with the branch manager personally to see if they can intervene on your behalf in contacting the foreclosure dept to stop the sale. They may be able to put in a call to their legal dept to get them to postpone any sale so that you can do what is necessary to be legally authorized to reinstate the loan.
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If you had acted a week or two earlier, you would have a much better chance of getting the sale stopped, but to be perfectly honest with you, it will be tough to get them to cancel it the day before the sale.
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Thanks.

Barrister

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If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

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