If my mother died and her mortgage is being foreclosed, as her heir howwill this affect my credit?

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If my mother died and her mortgage is being foreclosed, as her heir howwill this affect my credit?

The mortgage was in her name only but I received notice that I am being sued as her heir. I understand they have to file suit to get clear title. I have contacted the court and mortgage company to informed them that I have no interest in the property. The estate is also insolvent.

Asked on January 14, 2011 under Estate Planning, Indiana

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I am so sorry for your loss. Take what you received - and all the names and phone numbers of those that you spoke with - to an attorney to review.  They can not sue you.  You are not named on anything.  They can only sue her estate and name it in the foreclosure proceeding.  You state here that the estate is insolvent.  Have you done a probate or an administration (for an intestate estate - without a will)? Are you the personal representative?  Then you have the ability to do what you can with the property.  If that means a short sale (but make sure that they waive the deficiency) or a deed in lieu of foreclosure (again, watch the deficiency) then do so.  Good luck. 


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