Legal Question in Wills and Trusts in California
I had a house given to me when the lady passed away, she had put my name on The title before she passed she had a home loan.. I was paying on Then I was called by SLS They said, I am in foreclosure, due to nonpayment of the HELOC home equity line of credit. Please Can you help me understand this? Am I responsible for this loan?l did not sign or borrow for this loan
2 Answers from Attorneys
Sorry I don't understand what the facts are here. If the house was signed as collateral for the loan and the loan is not paid, the lender can foreclose on the house to get their money back.
Good luck.
You are not responsible for the debts personally, but the house is security for the debt. So if the debt is not paid, they can foreclose on the house. If it sells at foreclosure for more than the debt, you would get the balance of the funds. But unless you can refinance it or come current on the debt, they are entitled to sell the house in foreclosure.
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.
