What happens to a Home equity line of credit after death of borrower?
Asked May 29, 2011, 01:39 PM
My brother passed away leaving me 3 investment properties (via trust), all with mortgages and renters in place. There is a heloc attached to one property. A year has passed and I have all the houses in my name as well as control over the mortgages and am just barely breaking even. I have contacted the bank with the HELOC and they have not responded. What will happen if I stop making the payment on the heloc?