DEED AND TITLE on both name, mortgage was on one and he's dead!

[allcaexpress]

thanks, I bought a house with my partner july 2007, in plainfield NJ, the mortgage was he's only but the deed and the title was on both of our names.
he passed away april 2009 when im away over seas, we didnt have right of survivorship...
i didnt pay the mortgage since he died.
I am not sure if he had some surt of insurance or not, i know he have another house he secured towards the mortgage In PA.
I dont think he had any will... I need to know who is responsible for mortgage now, am i? or since i never signed for the mortgage im not, PLEASE HELP me ASAP, Its the first time i bought a house and I know nothing about it, I had different advices from different lawyers, some said the debt such as mortgage dies with death, and that the bank will go after HIM, any acount he may had and the other house he have (which is fully paid) and some said I will be responsible for it...PLEASE PLEASE HELP ME ASAP

 

[jharris352]

If a lawyer told you that a mortgage debt dies with debt you misunderstood the advice. It does die with him but the property is still on the hook.

If you don't care about the property, let it go. It will not affect your credit. If you want the property, then pay the mortgage.

If he had no will his estate is "intestate" and will be taken care of by statute.

 

[allcaexpress]

so in different word you are saying that I am responsible for the mortgage from now and that they will charge me.... are they going to revalue the house by the house marketing today? or they gonna force me the full morgage of the house taken in 2007 of 460K?
how can i check that to be sure about it?

 

[jharris352]

I have no idea what your last post means. Let me be clear. The Mortgage belongs to your deceased partner. The mortgage company has no way of knowing your partner is diseased unless you tell them, the executor of the estate tells them, or the payments are no longer made. You do not have to pay the mortgage, but they will foreclose and take the house if you do not. I have no idea what you mean by "revaluing" the house. They have a lien on the house for the value of the unpaid mortgage. If they foreclose on the house it will be sold at public sale. Whatever the home brings, they 1st mortgage plus fees will be paid first and you will get the remainder.

If you want to prevent this, pay the mortgage or get one in your name to pay off the balance of what is owed.

Did that make sense?

 

[allcaexpress]

i understood from him that the mortgage company/bank will go after him, even though he's dead...they will take over he's accounts and estates (he have another house fully paid he put towards the mjortgage) but since i am on the deed and title but not obligate to the mortgage at all this house i am own is a lost debt...so if he have any money in his will...and other estate...they will take that....make sense?

 

[dee_dub]

No, it doesn't make sense.

The house is in both your names. It belongs one-half to you and one-half to the estate of your partner.

What exactly is subject to the mortgage - your partner's interest in the house, or the whole house? Who is the executor of your partner's estate? And who inherit's your partner's half of the house?

You're not "responsible for the mortgage" - but if payments are not made on the mortgage - by someone, whether that's the executor of the estate or the person who inherits the house or you personally - the bank will foreclose on it. They will wind up taking whatever got mortgaged - either your partner's half, or the whole house, as the case may be. If you wish to prevent this, make the payments.