Need help/info. (enheritance property)
Thread Starter
Staging Lane
Joined: Aug 2005
Posts: 69
Likes: 0
From: houston,tx
Need help/info. (enheritance property) Okey, my father passed away 2years ago,victim od a drunk driver. He left us (siblings) with property for future needs( houses). In one particular house,my father got a equity loan out . Im now stuck paying the payments on the equity loan. Is there any chance or a way that i can find out if the loan was secured in a credit life insurance?. I have contacted bank officials,but it seems that they just avoid the issue or give me turnarounds. any help or anybody i can turn to and investigate/research. thanks alot
FormerVendor
Joined: Oct 2006
Posts: 3,123
Likes: 3
From: D-F/W
Look for the original loan documents. Sounds like your dad was a very responsible guy... I would bet he has his copy of those documents somewhere.
Pretty sure if you are the legal heir and or have a Power of Attorney over this property or the Estate then you will be able to obtain a copy of these docs. if you request the Bank or Title Co. who wrote the Title Policy. (The Bank would not have written an equity loan without a Title Policy... and they would have filed the documents with the County for taxing purposes.)
What you are looking for would be a HUD 1 or something similar... basically it is a document that describes all of the disbursements at the time of closing. There should have been an intial paymnet to an Ins Co. if he had that sort of policy placed on the property in question. It may have been a one time payment and it may have been amortized over the life of the loan.
Also, consider sending a certified letter to the bank officials you have been dealing with outlining your request for copies of the original loan documents. They have a fiduciary responsibility provide that info to you or the leqal owner if requested.
The Title Co. that wrote the Title Policy would have a complete set of the same documents. Check with them as well.
Good Luck.
g
Pretty sure if you are the legal heir and or have a Power of Attorney over this property or the Estate then you will be able to obtain a copy of these docs. if you request the Bank or Title Co. who wrote the Title Policy. (The Bank would not have written an equity loan without a Title Policy... and they would have filed the documents with the County for taxing purposes.)
What you are looking for would be a HUD 1 or something similar... basically it is a document that describes all of the disbursements at the time of closing. There should have been an intial paymnet to an Ins Co. if he had that sort of policy placed on the property in question. It may have been a one time payment and it may have been amortized over the life of the loan.
Also, consider sending a certified letter to the bank officials you have been dealing with outlining your request for copies of the original loan documents. They have a fiduciary responsibility provide that info to you or the leqal owner if requested.
The Title Co. that wrote the Title Policy would have a complete set of the same documents. Check with them as well.
Good Luck.
g
Last edited by Gilbert@Ace Racing; Aug 21, 2007 at 03:33 PM.
Thread Starter
Staging Lane
Joined: Aug 2005
Posts: 69
Likes: 0
From: houston,tx
Originally Posted by Ratchthed
Look for the original loan documents. Sounds like your dad was a very responsible guy... I would bet he has his copy of those documents somewhere.
Pretty sure if you are the legal heir and or have a Power of Attorney over this property or the Estate then you will be able to obtain a copy of these docs. if you request the Bank or Title Co. who wrote the Title Policy. (The Bank would not have written an equity loan without a Title Policy... and they would have filed the documents with the County for taxing purposes.)
What you are looking for would be a HUD 1 or something similar... basically it is a document that describes all of the disbursements at the time of closing. There should have been an intial paymnet to an Ins Co. if he had that sort of policy placed on the property in question. It may have been a one time payment and it may have been amortized over the life of the loan.
Also, consider sending a certified letter to the bank officials you have been dealing with outlining your request for copies of the original loan documents. They have a fiduciary responsibility provide that info to you or the leqal owner if requested.
The Title Co. that wrote the Title Policy would have a complete set of the same documents. Check with them as well.
Good Luck.
g
Pretty sure if you are the legal heir and or have a Power of Attorney over this property or the Estate then you will be able to obtain a copy of these docs. if you request the Bank or Title Co. who wrote the Title Policy. (The Bank would not have written an equity loan without a Title Policy... and they would have filed the documents with the County for taxing purposes.)
What you are looking for would be a HUD 1 or something similar... basically it is a document that describes all of the disbursements at the time of closing. There should have been an intial paymnet to an Ins Co. if he had that sort of policy placed on the property in question. It may have been a one time payment and it may have been amortized over the life of the loan.
Also, consider sending a certified letter to the bank officials you have been dealing with outlining your request for copies of the original loan documents. They have a fiduciary responsibility provide that info to you or the leqal owner if requested.
The Title Co. that wrote the Title Policy would have a complete set of the same documents. Check with them as well.
Good Luck.
g
