Probate/foreclosure issue . (WV)

[OhBother66]

Probate/foreclosure issue . (WV)

What is the name of your state ? West Virginia (WV) is the name of my state.

My spouse died intestate.While the estate was in probate,the house/note was "sold" by the lender of refinance funds.The loan is in the decedent's name only.The house is deeded/titled 'joint tenancy with rights of survivorship' Wouldn't the lender need to make a claim against the estate, since the loan is in the decedent's name only? Also,is it legal to foreclose on a property while probate is open? I don't believe the property was auctioned 'the old fashioned way' on the court-house steps,rather only transferred via an asset backed certificate.

The court house reportedly has no log of properties that were supposedly auctioned on their premise.(According to information received by the Deputy Clerk of my counties court house.

Thanks in advance for reading/responding.

It has been impossible to find an attorney to take this case via WV Legal Aid. I've not even found an attorney willing to take this case even on a paid basis.

 

[justalayman]

Wouldn't the lender need to make a claim against the estate, since the loan is in the decedent's name only?

make a claim? I'm not understanding your intent.

Also,is it legal to foreclose on a property while probate is open?

yes

I don't believe the property was auctioned 'the old fashioned way' on the court-house steps,rather only transferred via an asset backed certificate.

please explain.


Why do you believe the house was foreclosed on? Were the payments that delinquent? Was the loan secured by a deed of trust or a mortgage?

 

[nextwife]

There are two totally different things that may have occurred here:

The loan itself may have been sold to a different lender, or the loan was assigned to a different servicer. None of which in any way prohibits the estate from making payments.

Where I work, we will never prohibit a spouse of a deceased borrower from making the mortgage payments if the loan is current or nearly current. And if not yet in legal, we certainly will allow them to make the catch up payment needed.

OR you allowed it to go into default, and eventually to foreclosure sale.

Or both occurred.

You need to tell us which, and how long it has been in default.

And a mortgage holder does NOT need to make a claim on the estate because the asset itself secures the mortgage. Unsecured creditors need to make claims.

 

[OhBother66]

make a claim? I'm not understanding your intent.

yes



please explain.


Why do you believe the house was foreclosed on? Were the payments that delinquent? Was the loan secured by a deed of trust or a mortgage?

The loan was a home equity loan taken solely in the name of the decedent. The loan was quickly transformed to an asset backed security
and traded. The loan was attached to the original deed,which was titled as 'JTWROS' and not as tenants in common. I am wondering why the lender did not make a claim against the decedent's estate,since it was not a mortgage,but a security instrument the moment it was sold.

 

[justalayman]

If the home was properly registered as security, forget the JTWROS. It doesn't protect a property from an existing lien. As well, if the security interest was properly registered, they don't have to make a claim against the estate. If they are not paid, they can begin foreclosure actions.

a person is expected to be aware of their liabilities.

Once the foreclosure would be initiated, all you have to do is pay the loan to stop the foreclosure. They are not instantaneous in their actions.

 

[nextwife]

What is it you are trying to do? The estate needs to pay the decedant's bills. Any bills for secured assets that are left unpaid, puts that secured asset at risk of seizure. For an asset like a house, a lons is secured by the real estate and can be foreclosed even if no estate probate is filed at all.