he married got a 2 loan on the house house foreclosed. now the 2nd loan is come after the kids

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he married got a 2 loan on the house house foreclosed. now the 2nd loan is come after the kids

Mom past away 13 years ago father lived in the house mother lived in.when they bought the house they were common law marriage. he married got a 2 loan on the house house foreclosed. now the 2nd loan is come after the kids of my mother saying we will pay the loan off. cant they do that? also the kids didn’t sign any paperwork what so ever.

Asked on March 16, 2012 under Real Estate Law, Texas

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

From what you have written, the second lender on the parcel of property has no legal or contractual right under the laws of this country to seek payment from your mother's children. It would seem that in the event that the mortgage on the home is not current by your father that the recourse is for a possible deficiency judgment against your father due to the first lender's foreclosure on the property by the second lender.

I suggest that you and your siblings consult with a real estate attorney further about the situation you are writing about.


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