Legal Question in Real Estate Law in Nevada

Home forclosure

My husband died about a year ago. The mortgage on our house is in his name only. I still haven't changed anything. The house is worth about $200,000 less than what we paid for it now, and I doubt that it will be worth that any time soon. Plus, the monthly payment is $2300.00 which is hard for me to manage on my own. How does it affect me if I just stop making the payments and ultimately move out of the house? Does it affect my credit or my ability to buy a house myself if I just let the house go into forclosure?


Asked on 3/09/09, 12:52 am

1 Answer from Attorneys
Jonathan Reed Reed & Mansfield

Re: Home forclosure

If you didn't sign for the mortgage it shouldn't affect your credit if you refuse to take over this obligation. However, you haven't said whether he left an estate. Did he have assets that went into probate? Are you the executor of his estate? It is possible that if he left an estate and you are the executor you have duties to the mortgage company. I say "possible" because for certain small estate all money in the estate may be set aside for the spouse and minor children (if any).

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Answered on 3/09/09, 2:41 pm


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