If a parent is deceased, do all children have to sign for a home equity loan and if all did not, is this loan legal? 3 Answers as of March 27, 2014

My son and mother got a home equity loan that required signing of all children since my father was deceased. One of the adopted children was not asked to sign. Now the house is in foreclosure and trying ways to save parents' home.

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Law Offices of Linda Rose Fessler | Linda Fessler
It might help, but there are probably better ways of saving the house.
Answer Applies to: California
Replied: 3/27/2014
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
All persons on deed should sign any mortgage against the property.
Answer Applies to: New York
Replied: 3/26/2014
Meister & McCracken Law Firm, PLLC | Joanne M. McCracken
There is no legal requirement that children sign to obtain a loan for a parent. If the parent has poor credit or no income, the bank could require co-signers. Now that the home is in foreclosure, you may be able to seek a mortgage modification. If that is not successful, everyone who signed on the note, is liable for payment. You should all seek the advice of an attorney who may be able to find some defenses or other means of protection for all of you.
Answer Applies to: Arkansas
Replied: 3/26/2014
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