Legal Question in Real Estate Law in Illinois

My father died leaving behind his home with a mortgage. He has no will, but my sisters and I have been paying the mortgage. The mortgage company has recently been sold to another company and now they are trying to contact my dad. We dont want to tell them that he has passed because we dont know what they might do, or what financial documentation they might want from us to qualify for the mortgage. We also have questions reqarding his mortgage, but they will not talk with us because we are not authorized. Can they take the home if we reveal to them that he has passed? Will they want one of us to qualify for a mortgage to keep the home?


Asked on 11/07/09, 12:09 pm

1 Answer from Attorneys
Stephen Messutta

Sorry to hear about your dad. Sounds like you are the legal heirs to your dad's estate if your mom passed away before he did and he didn't remarry. Even if he did then without a will you should be entitled to a portion of his estate. And that means that effectively you all may own the home right now subject only to confirmation through probate court procedures. So you better contact the mortgage company to explain because if nobody deals with the loan they could foreclose. If you don't have the money to cover the mortgage, it's still a pretty lousy market out there but you may have to consider selling the home. Then the question will be whether the home is worth more than the mortgage debt. If it is worth more than the debt, you all could walk away with something out of it all. If not, and your dad's estate had no other real assets, the bank probably won't try going after his estate. Find a lawyer!! Good luck!!!

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Answered on 11/16/09, 7:11 pm


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