Legal Question in Real Estate Law in Illinois
What are my rights to stay in house that shared with my boyfriend who had a reverse mortgage and passed away last month. His daughter is the executor and is trying to force me to move. The house has not been foreclosed on yet.
Asked on 11/01/13, 6:20 pm
1 Answer from Attorneys
If he was on title and mortgage and you were not, really you have no rights. Reverse mortgages are not "foreclosed". Instead the loan is to be repaid on death or sale, whichever comes first. And if it's on death, it typically requires the sale unless the estate has enough to pay off the mortgage. The executor has control of the situation. You will have to talk to her. The law will mostly likely classify you as a month-to-month tenant.
Answered on 11/03/13, 12:34 pm