[maer]

My husband passed away two years ago. I thought we had mortgage insurance. The bank said that we did not. I went to a lawyer to have the matter looked into. The lawyer told me that based on the monthly payment amounts, interest of the loan and the balance owed, he did not think we had insurance either.

You may ask where are my loan papers. The bank closed and we did not get a copy. Less than a month after we moved into our home (a manufactured home), the bank sold our loan to another bank.

My question is, can the bank force me to assume the mortgage on the home? The mortgage is in my husbands name, the title and taxes are in my name now that he is dead.
I do pay the payments on the mortgage monthly. The bank is pressuring me to pay them in full or assume the mortgage or they will come and remove my home. I live in Florida, if that will assist in answering my question.

From what I can understand the mortgage can not be in foreclosure as long as I make the payments. The banks says that they are not foreclosing. They say that they don't have a contract for the home with me, so they will come and take the home if I don't assume the mortgage or pay in full. Is this legal?

[CaptainForest]

The mortgage and house go hand in hand.

If you don't pay the mortgage, they can reposes the house.

If you don't want to assume the mortgage, then they (or you can) will sell the house and give you whatever is left.

Or you can just assume the mortgage yourself.

[ScottGem]

Unlike unsecured debt a mortgage is secured by a lien on the property. Therefore, your husband's death did not absolve the debt. Since he is deceased, the creditor can call the loan. Calling the loan means you have to pay in full or they can take the property. However, they cannot just come and take it. They have to send you notice of a call on the loan. Then file foreclosure if not paid.

I would go back to that atty and find out exactly what your rights are here.

[Cvillecpm]

My husband passed away two years ago. I thought we had mortgage insurance. The bank said that we did not. I went to a lawyer to have the matter looked into. The lawyer told me that based on the monthly payment amounts, interest of the loan and the balance owed, he did not think we had insurance either.

You may ask where are my loan papers. The bank closed and we did not get a copy. Less than a month after we moved into our home (a manufactured home), the bank sold our loan to another bank.

My question is, can the bank force me to assume the mortgage on the home? The mortgage is in my husbands name, the title and taxes are in my name now that he is dead.
I do pay the payments on the mortgage monthly. The bank is pressuring me to pay them in full or assume the mortgage or they will come and remove my home. I live in Florida, if that will assist in answering my question.

From what I can understand the mortgage can not be in foreclosure as long as I make the payments. The banks says that they are not foreclosing. They say that they don't have a contract for the home with me, so they will come and take the home if I don't assume the mortgage or pay in full. Is this legal?

Investigate refinancing the MH now with another lender. Just like you can re-fi a used car for a better rate, look to present loan amount v new loan amount at a lower rate with perhaps lower interest... worth some phone calls.

You need to let the lawyer write the bank. They are trying to accelerate the loan since the note holder is deceased... that may or may not be a violation of Florida law.

[CaptainForest]

maer disagrees: I am making the payments. Regular payments monthly. I just will not sign for the mortgage. If they wanted to call the mortgage, why didn't they come and get the home two years ago when I refused to assume the mortgage. They are getting payments.

Let me try this again.

Banks are greedy.

If you are paying them what they want, they are happy.

But if a new bank manager comes in, he might decide to change policy.

The fact you have been paying the mortgage is YOUR decision.

No one is forcing you to since the debt is NOT in your name.

However by paying the mortgage you have kept them off your backs for now.

But in the end, you refusing to sign might finally just piss them off enough to take away your home.

[excon]

Hello maer:

I'm a gambler. I like poker. I like the thrill of winning.

But, I don't understand why you are gambling with your house. You have EVERYTHING to lose, and nothing to gain. Please fill me in. What's the great advantage of NOT assuming the mortgage?? I know you have some great plan in mind. I just can't figure out what it is.

excon

[ScottGem]

First let me call your attention to these suggested guidelines on using the comments feature:

https://www.askmehelpdesk.com/feedba...ure-24951.html

While you may not have agreed with what Forest said, his response was correct and accurate. Therefore a negative comment was uncalled for.

Second, I agree with excon. I also wonder what you think you are gaining by not assuming the mortgage or refinancing. As everyone has pointed out, the mortgage is secured by a lien on the home. The bank can foreclose whether you are on the mortgage or not.

As for why they continue to accept payments, why not? It doesn't matter who makes payments on the loan as long as its paid. I'm not sure why they insist on you assuming the loan, but they do have the right.