Legal Question in Real Estate Law in Virginia

question

my owned a house he passed away his wife took out a loan on the house.. she now passed away....the bank the loan was taken from went out of bussness it went to a colection agent..... i would like to know who are they collection for if that bank went out of bussness and do i have to now pay for the loan...when i ask them this i get no answers they wont give no iformation.. there was no will but me and my sister are the only siblings left and there is no power of attorny


Asked on 6/29/08, 5:04 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: question

Your question is difficult to make out, but, yes, if a mortgage loan was taken out on the house where you and your sister now reside, that mortgage will somehow have to continue to be paid

after the deaths of the original borrowers to whomever now holds the note on the house.

You may wish to consult an attorney near where you live for further advice on this matter.

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Answered on 6/30/08, 8:33 am


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