Legal Question in Wills and Trusts in California
My aunt left me and my brother her house in her will when she died but she took out a loan a reverse mortgage on house so is the will still in effect because of the loan
Asked on 4/26/12, 8:57 pm
4 Answers from Attorneys
Jennifer Rouse
Meissner Joseph & Palley
The security interest that the mortgage company has on the property has no bearing on the terms of the will. You will need to determine if there is any equity in the property and her it is worth probating.
Answered on 4/27/12, 8:39 am
Aaron Feldman
Feldman Law Group
You need to act promptly. Reverse Mortgage lenders usually have a 6 month payback provision or they will initiate foreclosure and you can lose the equity that may exist.
Answered on 4/27/12, 10:50 am
Anthony Roach
Law Office of Anthony A. Roach
The will is effective, but the house is subject to the reverse mortgage.
Answered on 4/27/12, 8:30 pm
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