(Closed) About to inherit a house, don’t know how much is owed, need some perspective…:

posted 6 years ago in Legal
Post # 3
Member
14495 posts
Honey Beekeeper
  • Wedding: June 2011

You might get lucky, maybe the bank made him get loan insurance and it will be paid off with that.

Post # 4
Member
2233 posts
Buzzing bee
  • Wedding: September 2012

Well I can only help you with what you would do if you lived in Ontario:) Hopefully it’s somewhat similar and you can go from there. 

I would find a good real estate lawyer who represents you and would be able to guide you in how to get the information. Here in Ontario many professions have access to loan information, not just the bank that holds the loan. However, lawyers will also not release information to just anyone, information can only be released to certain parties. 

Post # 5
Member
27 posts
Newbee
  • Wedding: November 2011

You should be able to go to the county deed clerk and get a copy of the loan docs…public record. You should also be able to search there for liens against the property too. And you can get tax records thru the county tax accessor office. If you have access to the home, hire an independent appraiser to get some idea of the property’s current value.

Post # 6
Member
27 posts
Newbee
  • Wedding: November 2011

And…whoever is executor of his estate can provide his bank proof of executorship, and they should be able to tell you info on the loans status. Hope my banker knowledge helps 😉

The topic ‘About to inherit a house, don’t know how much is owed, need some perspective…:’ is closed to new replies.

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