Legal Question in Real Estate Law in Arkansas
va loan
my father died sept. 1,2004,,he purchased a home using a va loan,,,,the house has three different loans on it,,, siding payment on going 10 yrs,,,,room addition on going 10 years,,,,mortage payment on going 22 years...my mother is recieving social sercurity and his disabilty benifits,,,if the house were to be reposessed because she didnt make payments,,,,would she be accountable for the balance of what they couldn't sell the place for? or is she judgement proof....both of their names are on these loans and she is 62 yrs old and the house has less value than what she owes,,,
1 Answer from Attorneys
Re: va loan
It is very likely that she would be responsible for the loans since her name is on there. In fact, since your father has passed, the loans should be just in her name.
Whether they can actually do anything to your mother is another story. They may not be able to take anything from her, even if they get a judgment. It depends on her assets, income, etc.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
