Legal Question in Real Estate Law in Florida

2nd mortgage and refinancing after split owner deceased
I purchased a home with someone and he took out a loan against the home a few years ago, in his name only, but I had to sign on the property as a second mortgage. He has since passed away with no will and without paying the loan. The bank is threatening foreclosure of this loan to me now even though it does not show on my credit report. Can a 2nd mortgage foreclore on the home and how can I refinance this and take some equity out of the home without his signature? He was not married and had no children.

Asked on 1/20/04, 11:58 am

David Slater David P. Slater, Esq.

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Re: 2nd mortgage and refinancing after split owner deceased

Although they can foreclose the first mortgagee is paid first. You need to pursue the estate of the co owner.

Answered on 1/20/04, 4:46 pm

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