Valerie Mackey,
Agent, Wyomissing, PA
First, let me offer condolences on the loss of your father.
Is the mortgage solely in your father's name, and is your name not on the mortgage at all? If that is the case, I would probably recommend that you seek a legal consultation on this matter, since normally, when somebody has a mortgage on a house, their name has to be on the deed (because the bank that lends a mortgage to a person has a lien on the property, they require that that person be an actual owner of the property in question.....).
If your name is ONLY on the deed but not the mortgage, it seems to me you might be in murky waters here, and that the escrow overage check might be considered part of your father's estate, even though you were the one paying the mortgage...Seriously, it sounds like you need legal advice, at the very least to get the situation regarding your mortgage and the deed on your house straightened out (given that the interest rates are incredibly low right now, you might be able to refinance the mortgage into your own name at a better rate than your father got in 2005.)
Is the mortgage solely in your father's name, and is your name not on the mortgage at all? If that is the case, I would probably recommend that you seek a legal consultation on this matter, since normally, when somebody has a mortgage on a house, their name has to be on the deed (because the bank that lends a mortgage to a person has a lien on the property, they require that that person be an actual owner of the property in question.....).
If your name is ONLY on the deed but not the mortgage, it seems to me you might be in murky waters here, and that the escrow overage check might be considered part of your father's estate, even though you were the one paying the mortgage...Seriously, it sounds like you need legal advice, at the very least to get the situation regarding your mortgage and the deed on your house straightened out (given that the interest rates are incredibly low right now, you might be able to refinance the mortgage into your own name at a better rate than your father got in 2005.)
Web Reference: http://valeriemackey.com
Lauryn Eadie 703-898-4771,
Agent, McLean, VA
Dear Homeowner, my condolensces on your loss. Sounds like you were very close and I am sure this is a trying time.
I whole heartedly agree with my colleague below. This is a murky situation and legal counsel would prove wise and helpful. I have seen instances in which the person on the mortgage is not on the deed, but with the death it has created a situation. And Valerie might be right in that the escrow check could belong to your fathers estate. I am guessing that your father purchased your home for you because of a lack of or bad credit for you. As Valerie suggested you might want to contact a mortgage lender to see if you could qualify now for a loan in your name and purchase the home from your father's estate.
Consult an RE attorney!
I whole heartedly agree with my colleague below. This is a murky situation and legal counsel would prove wise and helpful. I have seen instances in which the person on the mortgage is not on the deed, but with the death it has created a situation. And Valerie might be right in that the escrow check could belong to your fathers estate. I am guessing that your father purchased your home for you because of a lack of or bad credit for you. As Valerie suggested you might want to contact a mortgage lender to see if you could qualify now for a loan in your name and purchase the home from your father's estate.
Consult an RE attorney!
