Can a credit card collector take my home

[nataschakirk]

What is the name of your state (only U.S. law)?

I live in North Carolina. My mom passed in Jan. She had no money in the bank a small whole life policy in which 3500.00 was sent to me. I paid for her funeral and taxes on her home. Ive lived in this house for yrs with her. A collection office, Mann Bracken contacted me saying she owed 8000.00 on a visa from bank of america. I told them I didnt have 8000.00 They said if i didnt pay the money the would take me to court and force foreclosure to pay this debt. Ive been paying lots of bills shes left behind including a mortage. Can they take my house??? Will i be forced to sell?

Thanks in advance

T

[nextwife]

Is this now your house - is probate completed?

How large is the mortgage? Are you the only heir? Is there a will? How is the house titled now?

[nataschakirk]

I'm an only child. Yes mom had a will for me to have everything. As far as probate, I never heard the word until today while I was searching for help. I still don't get it. I assume the house is still titled in her name. I haven't done anything. I thought that once she was gone everything would just go to me. I've never been threw this before. I pay the mortgage. 71000 owed. Someone said not to open an estate because there was no money, other assets ect. I had no idea that nothing was mines until the courts or whomever said so. I know that this sounds unreal but I truly didn't know that I was suppose to do . I just continued working so I could pay my bills and the rest of her credit cards. I feel so stupid and scared. I grew up in this house. I never thought a credit card co. could take my life away. She has many other creditors who are working with me to resolve the debt. Mann Bracken collectors won't even consider working out something with me. I appreciate you responding!

[nextwife]

Originally Posted by nataschakirk

I'm an only child. Yes mom had a will for me to have everything. As far as probate, I never heard the word until today while I was searching for help. I still don't get it. I assume the house is still titled in her name. I haven't done anything. I thought that once she was gone everything would just go to me. I've never been threw this before. I pay the mortgage. 71000 owed. Someone said not to open an estate because there was no money, other assets ect. I had no idea that nothing was mines until the courts or whomever said so. I know that this sounds unreal but I truly didn't know that I was suppose to do . I just continued working so I could pay my bills and the rest of her credit cards. I feel so stupid and scared. I grew up in this house. I never thought a credit card co. could take my life away. She has many other creditors who are working with me to resolve the debt. Mann Bracken collectors won't even consider working out something with me. I appreciate you responding!

The house is your residence, but, legally, it is NOT your house. It is owned the estate of your mother. Ownership transfer is not automatic in this case.


The ways it works is this:

The estate assets are intended to FIRST be used to pay estate debts. Equity on Mom's home is an estate asset. You could have done some reading when Mom died to see what should be done. Doing so now will help you learn what is supposed to happen.

IF anything remains after the creditors are paid off, what remains is the be distributed to any heirs. Have you read intestate succession for your state, so you know who any heirs may be, and that there can be heirs who are not her children?

If there is equity, and you are the only legal heir, another option is for you to "buy" the house from the estate, using your inherited portion as the Down Payment, and then obtain a mortgage sufficient to pay off the creditor. It's worth it to not loose the home. If you are indeed the sole heir, another option is for you to pay off the debt from your own savings and keep the home.

You need to consult a probate attorney. Doing nothing is not an option. I've seen adult kids foreclosed out of their parent's homes because they would not pay what was needed out of probate, and refused to file probate.

How much equity is at stake here? Another option is the sell, pay off the mortgage and creditors, and use your portion toward a home for yourself. When my mom passed, there were three siblings. Rather than ONE of us taking the house, we sold it and each put a third of the remaining proceeds toward our own individual homes.