Should I advise her to not make payments on a dead persons house?
A female realtor that I have done business with contacted me yesterday asking me to do a shortale for her. Her father in law just passed away w/ no equity. He is the only one on the loan. He is current. She wanted to know if her father in laws family should continue to make payments or stop to allow me to work a short sale.
What do you think is the correct thing to tell her?
Gregg
Not really enough details and the ‘correct’ response would have them call an attorney.
The answer is, it depends. Did the deceased leave any inheritance behind? Have any liquid assets or an estate plan?
If he basically had nothing, then chances are it’s not going to hurt anyone else if the house payment isn’t paid. But if there is an estate, then lienholders could hold the estate liable for payment. Worth consulting an estate lawyer.
Raj
Appreciate it Raj