Am I liable...also can i do a deed in lieu of foreclosure

by Dennis
(Orland Park, IL USA)

My mom died and i am titleholder of her house. she had an unpaid reverse mortgage. she was only one on reverse mortgage. this was abt 4 yrs ago. I was dealing with Morris Griffin C&L when she died re her reverse mortgage. Supposedly they took over the house after i took everything out and they changed locks and posted signs with notes to call them if interested in property. I received no taxes, etc. and sign still remains there and they do send someone out to take care of outside lawn, snow. I was also talking with them about doing a deed in lieu of foreclosure and i thought that was done because they posted the signs on house and took care of it and it still is standing empty.
Now, last week i receive papers from HUD saying there is a huge balance and i am guessing they want me to let it go to foreclosure. I thought i was out of the entire picture and there was a deed in lieu of foreclosure....No answer and no calls can go thru to Morris Griffin at the phone numbers on my papers and on the website. I was not and will never be in position to buy that place and i dont want my credit to go bad if it goes into foreclosure. I have been told that a reverse mortgage is a non recourse loan and they cannot come to me....What is going on?????? what steps do i need to take. I am nearing 70 and dont need to be hit with this.....thank you for your time.

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Nov 20, 2012
Foreclosure and HUD
by: Anonymous

My father in law passed several years ago.He had a mortgage in his name only.We were living there...moved out........the home was sold at auction.Costing us nothing.

Just remember collection agencies are not in it for the CO that you had a debt with. The collection agency bought the debt for pennies on the dollar. The debt is cleared from that standpoint. What everyou pay the Agency is free cash for them. EXAMPLE xxxxx owed $5,0000 to ooooo-CC buys the debt @3cents per dollar-They harrass you for the $5,000 or what ever they can intimadate you into paying.This is all free and clear after the %cent pdi.

Oct 19, 2012
Am I liable...also can i do a deed in lieu of foreclosure

I am so sorry that you are having the problems you are!

Your situation is complicated and so I cannot tell you what is going on based on the information you've provided me. I recommend that you call 855-206-5310 (toll-free) right away to speak with an attorney who can advise you of your rights and tell you what you need to do to resolve your problem.

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