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#444574 - 03/25/15 09:11 PM OK 2 Short sell home for wife on deed, but not on deceased hubby's mortgage?
MariaSells Offline
Junior Member

Registered: 02/10/15
Posts: 1
Loc: MIchigan
This would be my first time assisting in the sale of a home with a deceased spouse.
I have a client who's husband passed away. There was no will. She wants to buy a new house and short sale or walk away from the current house. It is under water and she is not on the mortgage.
Yes, she did get insurance money, but she does not want to stay in the home and she only works part time so she can care for their 2 kids.
Can I short sell for her if she's on deed and not on loan?
Or should she just walk away? The research I did shows she can choose to just foreclose on the home as it won't affect her credit.
(I will also advise her to speak to a lawyer.)
Thanks in advance!

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#444583 - 03/26/15 06:42 AM Re: OK 2 Short sell home for wife on deed, but not on deceased hubby's mortgage? [Re: MariaSells]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7527
Loc: Vermont's North-East Kingdom
Is the mortgage held by a local bank ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#446738 - 07/23/15 11:18 AM Re: OK 2 Short sell home for wife on deed, but not on deceased hubby's mortgage? [Re: MariaSells]
SanD Offline
Junior Member

Registered: 07/23/15
Posts: 3
Loc: California
Have you spoken with the lender or mortgage officer managing?

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#448755 - 11/09/15 12:21 PM Re: OK 2 Short sell home for wife on deed, but not on deceased hubby's mortgage? [Re: MariaSells]
John_Myers Offline
Member

Registered: 08/09/12
Posts: 43
Loc: NM, USA
I think you can still short sell the home. Call the lender and ask what they need to get the short sale done.
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Myers & Myers Real Estate






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