Q: Q1.If the mortgagor dies in 2009, and the mtg contract is due, but the lender does nothing. Is that deemed accelerated?
Q2. If the lender servicing agent states in writing, it has referred the home to foreclosure, is it accelerated?
Q3. And if so does subsequent communication also deem the loan status accelerated?
A: The answer unfortunately is that it depends on the language in the mortgage.
A: It is accelerated when the lender deems it to be. The death of the borrower is no issue. Payment is due when it is due.
A:
Q: Q1.If the mortgagor dies in 2009, and the mtg contract is due, but the lender does nothing. Is that deemed accelerated?
No
Q2. If the lender servicing agent states in writing, it has referred the home to foreclosure, is it accelerated?
If the foreclosure action is calling the entire note due, then it can be deemed accelerated in court. There is case law around that. Without actually seeing the papers, then my answer is maybe. There is always the possibility that the servicer could have taken affirmative action to revoke its acceleration.
Q3. And if so does subsequent communication also deem the loan status accelerated?
Without seeing the paper work the answer is maybe.
You really need to talk to an attorney if you want answers specific to your situation.
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