What Happens to a Mortgage When the Borrower Dies?
When a homeowner dies, the lender can foreclosure, but the foreclosure must name the heirs, executors and administrators.
When a homeowner or mortgage borrower dies, their Will normally dictates who will
Ira J. Metrick's Law Blog
Ira J. Metrick's Law Blog, published by Ira J. Metrick Attorney at Law LLC, focuses on legal issues related to foreclosure defense and mortgage loan modifications in New Jersey. The blog covers topics such as the foreclosure process timeline, pre-foreclosure stages, repayment plans, and strategies to stop foreclosure. It also addresses challenges like zombie mortgages and surplus funds claims, including guidance for heirs navigating probate to claim funds after a sheriff's sale. The blog provides practical information for homeowners facing mortgage difficulties, emphasizing consumer rights and legal remedies available under state and federal laws.
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Can a Bank Foreclose on a Property if the Homeowner Dies? (Updated 2023)
By Metrick ESQ.
What Happens to a Mortgage When the Borrower Dies?
When a homeowner dies, the lender can foreclosure, but the foreclosure must name the heirs, executors and administrators.
When a homeowner or mortgage borrower dies, their Will normally dictates who will…
What Happens to a Second Mortgage After Foreclosure in NJ?
Can my Second Mortgage Lender Foreclose on my Property?
Your second mortgage lender has as much right to foreclose on the property if you fall behind on payments as your original mortgage lender does. However, a second mortgage lender must…
What Happens to a Second Mortgage After Foreclosure in NJ? (Updated 2023)
By Metrick ESQ.
Can my Second Mortgage Lender Foreclose on my Property?
Your second mortgage lender has as much right to foreclose on the property if you fall behind on payments as your original mortgage lender does. However, a second mortgage lender must…
Select Portfolio Servicing (SPS) to Acquire Rushmore Loan Management Services
Select Portfolio Servicing (SPS) has announced that it is set to acquire certain Rushmore Loan Management Services assets, along with their servicing personnel and contracts, in a move that will see the two companies enter “a new era,” says Rushmore…
Were You Denied a Home or Vehicle Loan Due to Your Credit Score?
During the months of March and April 2022, credit reporting giant, Equifax, one of the three largest credit reporting agencies in the country, issued incorrect credit scores for millions of consumers. If you were denied a home or vehicle…
My Mortgage Company Locked My Account. What Should I Do?
My Mortgage Company Locked My Account and I Can’t Get Mortgage Statements or Account Information. What Should I Do?
Many people opt to forgo paper mortgage statements in favor of receiving them electronically, via their lender’s system or app. However,…
Avoid Surplus Funds Scams
Being in foreclosure can be very difficult and draining, but if there is equity in the home, you could be entitled to “Surplus Funds” after a sheriff sale.
Beware scams and scam artists who try to take large portions of…
Who Takes Ownership Of A Home After Death of Parents or Divorce?
Supporting Successor in Interest Claim in an NJ Divorce Property Settlement Agreement
When people get divorced, if one person wants to keep the home and be able to get a loan modification, they need to have specific language included in…
Am I Entitled to Mortgage Surplus Funds? (Updated 2022)
What are Mortgage Surplus Funds?
If your lender has obtained a Final Judgment of Foreclosure, they will attempt to sell your home at a Sheriff Sale and the money paid by the successful Bidder will be used to pay the…