My father died and he is one of those that a number of years ago a bank gave him a re-mortgage worth twice what was worth at a high interest rate. The mortgage is still more than the house is worth. Can we give the house back to the bank, and can they then come back after the estate for the difference?

You can probably sell the property for more than it will bring in a foreclosure sale, or auction. You may want to work with the lender and see if it will agree to sell for less than the debt; it may net them more than an auction.

No, it won't sell for close to the mortgage value. The question is does the bank have the right to go after the estate for the difference?

Quote:

---

Originally Posted by me021490

The question is does the bank have the right to go after the estate for the difference?

---

Hello me:

Yes.

excon