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Surrendering a mortgage/mother's property
My mother owns a condo in Florida. She is in a facility and has been diagnosed with Alzheimers. She owes $204,000 on the condo and it is worth approximately $100,000. How do we (children) go about surrendering it to the mortgage company? None of our names are on the deed.
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I researched your question and found a website which details surrendering a motgage to lender. I hope one of you has Power of Attorney, it will make life so much easier for all of you, unless your mom can still sign her name to paperwork. They do urge that you exhaust all possible options before you surrender a mortgage, but I can't understand why your mom ows $204 on a $l00 condo. How come the big price difference. I hope this website will give you what you need. Surrendering a Home Tick |
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