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

Get Legal Help Today

 Secured with SHA-256 Encryption

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 9 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.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption