My 75 year old father passed last July. He ownes a house with his 73 year old wife. Over the years he remortgage the house WITHOUT his wife's permission and did not pay anything back. My question is if the house goes thru a short sale is his wife entitled to half because she is a deedholder? The bank is trying to take all and leave her with nothing.
1 Answer from Attorneys
In a short sale, the owner gets nothing. If the owner gets anything that they do not report to the bank it is fraud and they may be prosecuted for criminal activity. She is not entitled to any proceeds if it is a short sale. She may be given a stipend by the bank for moving expenses but that needs to be negotiated. Half of nothing is still nothing.