Responsibility for Mortgage and Family Debts After Death
My husband and I are both on the deed of his parents' mortgage here in California. After his parents expire, are we legally responsible for their house payments? Also, my husband is the power of attorney of his mom. His father is deceased. Also, if we plan on refinancing the home into our names after the fact. His parents owe $50,000 in credit debt. Their credit cards are in their names only. If the house goes in our names, will we be financially responsible for paying off their credit cards and loans that are not part of the mortgage? :confused:
Re: a Friends About Mortgage and Family Debts
how is title to the property held:
joint or tenants in common
and to the house payments; not if you don't want but the bank will foreclose if somebody doesn't pay the mortgage.