Help! Advice Needed…
Sep. 21st, 2010 10:21 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
octothorpeI've a friend who is in a bind…
It seems pretty fucked up that upon the death of a spouse, the remaining partner (regardless of gender) can be foreclosed upon if they weren't on the original loan signature.
Does anyone know the laws enough to give him options (aside from suddenly becoming homeless)?
this totally sucks.
- His husband (legal husband under WA state law) died, leaving him with a bunch of debt.
- He was able to to deal with most of it, but there is the rather large problem of the house mortgage.
- The loan was signed by the husband but not my friend (ie, no co-signer).
- The bank is about to foreclose on him (at the end of this month), as they (the bank) don't believe the loan is transferrable to the spouse.
- Somewhat ironically, my friend has been making payments all the while, and is capable of continuing payments.
- He isn't however, necessarily capable of qualifying for a new loan to pay off this one.
It seems pretty fucked up that upon the death of a spouse, the remaining partner (regardless of gender) can be foreclosed upon if they weren't on the original loan signature.
Does anyone know the laws enough to give him options (aside from suddenly becoming homeless)?
this totally sucks.
