Sell Your Home

by Ann
(Jamaica, NY)

My friend was married for 40 years before her husband died. The house was paid for and in both their names. Now it is her house. The bank finds an outstanding loan for her husband and his first wife. Is that possible to have a $9,000 debt and not know about it for over 40 years? Does she have to pay the debt before she can sell the house?

Comments for Sell Your Home

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Nov 17, 2010

old loan
by: Gerri

I assume there is a lien against this property. If that's the case, she should seek legal advice to find out whether it is still valid, or whether it can be enforced against her. She is going to have to consult a real estate attorney or a consumer law attorney with experience in consumer credit law for advice. You can tell her to visit Naca.net to find one to speak with.

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