creditors and estate and motgage
Do mortgage companies have to fall under the time limits set by Indiana law to file with the probate court? We filed the notice of administration and it was in the paper and we notified the bank where the mortgage was. we have continued to pay the mortgage. However they never filed their claim with the court until 11.25 months after her death. Which Indiana law says 3 months from notice of admin or 9 months after death. Do we have to pay the mortgage or because it is a secured loan do we still have to pay it. It is a small second mortgage.
1 Answer from Attorneys
Re: creditors and estate and motgage
The bank is too late to make a claim on the estate, but the bank's mortgage is still enforceable. So if the underlying note falls into default, the bank can foreclose. I suggest you confer with a local attorney experienced in property law to see if you can negotiate something with the bank. Good luck.