Q: My deceased sister's house is up for Auction.
Filed but now dismissed. I am the only heir. If I get administrator from surrogate
Court - can I then stop the auction this is in Union county NJ b
A:
You will need to move quickly. As of 2014, the Consumer Financial Protection Bureau has a rule that makes it easier for anyone who inherits a home to get on the mortgage and qualify to make payments. Federal law also prohibits lenders from requiring the loan to be paid in full whenever a mortgage holder dies. However, if it is a home equity line of credit the bank may require it to be paid.
Talk to an attorney today about your options.
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