Legal Question in Wills and Trusts in Florida
My sister was given her boyfriends house upon his death outside of his will. He had both a mortgage and home equity loan. I understand the mortgage still stands but what about the home equity loan? Is it considered under the same rules as a credit card? There is no money in the estate and my sister can not afford both the mortgage and home equity loan payments.
Asked on 5/27/15, 1:15 pm
2 Answers from Attorneys
Barry Stein
De Cardenas, Freixas, Stein & Zachary
The home equity loan likely has a lien against the property and is dealt with the same way as the mortgage.
Answered on 5/27/15, 1:17 pm
Joseph Pippen
Law Office of Joseph Pippen & Associates
The home equity loan would be a lien on the property just like any other mortgage.
Answered on 5/28/15, 4:19 pm
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