Foreclosure in 10552>Question Details

Gail Wright, Home Seller in Mount Vernon, NY

My husband died. My name is on the deed Not themortage The payments are overdue. I cannot afford the house or taxes. Can I sell? What else?

Asked by Gail Wright, Mount Vernon, NY Fri Jan 8, 2010

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Hi Gail,

I would advise that you contact an attorney. I have the name of an attorney who works out of the Bronx and is very good. Her name is Denise Miranda and she would be able to help you. Please find the link to her website below:

Robin Lynch
Keller Williams Realty Group
0 votes Thank Flag Link Thu Jan 14, 2010
Gail, sorry for your loss. Can you give some more details, such as what you think the house is worth, what your mortgage balance is, and how old you are. If you can sell your house for more than your mortgage balance, all you would need to do is have the probate papers filed, and sell. Regardless of who is on the mortgage, that will get paid off from the proceeds of the sale. Consult an attorney so that they can give you proper advice about how your deed was worded, whether it was tenants in common or joint tenants.
The reason I ask your age is, if you can afford the taxes only on your income, perhaps you could get a reverse mortgage to pay off the loan, and you could stay in the house without having to make mortgage payments. You would be responsible for taxes, insurance, and other upkeep. You could possibly also get an enhanced STAR exemption to lower your taxes, and there might be other methods of getting the taxes lowered for you as well.
If you would like to discuss the idea of a reverse mortgage with me, please feel free to call: 516-972-1687.
0 votes Thank Flag Link Sat Jan 9, 2010
Hi Gail, I am sorry for your loss. Contact the lender immediately and forward to them a death certificate. Try to work out an emergency plan with them so you do not risk foreclosure in the short term. If you are on the Deed, you will not have to take the home through probate, but double check with an attorney in NY, or the probate judge handling the probate terms. Then, if you wish to sell, list the home as soon as you can. I hope these comments help. Best wishes, Jim.
0 votes Thank Flag Link Sat Jan 9, 2010
You should be able to sell the house if you are on the deed, however you will need to pay off the mortgage in order for them to release the lien. You really should check with an attorney or the attormey who took care of his estate. You also may want to contact the bank dorect, let them know what happened and see if they can work with you. You will probabily need the death certificate. My deepest sympathy for your loss and i hope everything works out for you Gail.
Web Reference:
0 votes Thank Flag Link Sat Jan 9, 2010
Good Morning Gail
My condolences on the loss of your husband. It is always difficult to deal with the emotional side of a death, but unfortunately, life goes on for the living. If you haven't already, you definitely need to speak with an attorney familiar with NY probate laws to get advice on how to best proceed or investigate the laws through your local jurisdiction responsible for dealing with probate. If you know someone that has gone through this process themselves or are a do it yourself type person, it is something that can been done without an attorney depending on the size of the estate.
You don't list any time frame, but the first thing that needs to happen is to deal with the probate or settle the estate and know the ownership in regards to the property. Depending on how you were in title on the property you may be able to immediately assume 100% ownership or have to go through the process of obtaining the 100% interest subject to the lien on the property by the mortgage company. Either way you should be able to sell the property to protect your interest depending on the value of the home and the amount of the mortgage.
Basically there isn't a simple answer to your question without knowing more details and being familiar with the laws of NY and these must be answered by someone that is knowledgeable to your specific area.
Best wishes to you as you move forward in 2010.
0 votes Thank Flag Link Sat Jan 9, 2010
depending on the State Laws, you can sell the home but please check with an Attorney first to make sure you are complient with the Laws in your stae and of probate.
0 votes Thank Flag Link Fri Jan 8, 2010
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