Legal Question in Credit and Debt Law in Florida

Paying on a loan that is not mine

For the past year I have been paying a morgage on property that belonged to my late father. I have paid out close to $10,000 in hopes that I may keep the property long enough to sell it. Now I can no longer afford to make the payments and am considering letting the bank foreclose on the loan. Do I have any recourse in getting any of my money back? I am not a cosigner or attacthed to the loan in any other way. I am however on the deed for the property.

Thank You.


Asked on 1/09/03, 8:14 am

3 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Paying on a loan that is not mine

Only if the foreclosure sale exceeds the mortgage debt owed. Good luck.

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Answered on 1/09/03, 8:52 am
Sheldon G. Bardach Law Offices of Sheldon G. Bardach

Re: Paying on a loan that is not mine

You have hot furnished enough information. Did your father die without leaving a will? Are you his only surviving heir? All of this information bears on whether you are entitiled to deal with the property. In any case, a fair minded owner or executor, should be willing to reimburse you on the basis that the estate or property has been unjustly enriched.

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Answered on 1/09/03, 12:33 pm
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Paying on a loan that is not mine

No. One possible way is if the foreclosure sale yields more than the foreclosure judgment. In your case, that is doubtful.

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Answered on 1/09/03, 2:17 pm


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