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  1. #1
    Join Date
    Aug 2012
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    1

    Default North Carolina Foreclosure on Inherited Property

    My question involves a mortgage in the state of: NC

    From our understanding the executor/co-beneficiary never refinanced the mortgage from deceased name. We received a notice in the mail that the property is now in foreclosure. We are unable to prevent foreclosure to this property since we are unable to pay that mortgage as well as our own. The executor told us a year ago he had arranged for a short sale. I will assume that this paperwork was never completed/applied for.

    My question is since the mortgage was never refinanced from the deceased name can we be held responsible for the mortgage in any way? Would the mortgage holder be able adversely effect my credit even if I never signed anything for the property?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: North Carolina Foreclosure on Inherited Property

    The debts of the estate stay with the estate. If the estate lacks sufficient assets to cover its debts, the creditors are paid some portion of what's owed from whatever assets the estate holds. The heirs don't pay.

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