Reverse mortgage in foreclosure

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Reverse mortgage in foreclosure

My elderly parents in Florida had a reverse mortgage that went into foreclosure but,
never made it through all the way yet. They are both gone now, the money owed is
more than the value of the house. I havent been served yet, but told different things
from different people, I dont have any interest in this house but dont want to have
to sign anything either. Will I be required to sign anything if I just dont contest the
foreclosure. I dont want or feel entitled to it anyway.

Asked on March 14, 2018 under Estate Planning, Florida

Answers:

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

Answered 4 years ago | Contributor

I am so sorry for your loss.  You are named in the foreclosure because you inherited the house by operation of law as the next of kin.  But the estate is responsible for the debts, not you personally.  I would go and see a lawyer for a consultation with the paperwork.  Good luck.


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