Cincinnati, OH asked in Estate Planning, Family Law, Real Estate Law and Elder Law for Ohio

Q: Forgot to say in my previous post...

I forgot to say a few more things about that equity line of credit issue with my mother. Her house is in disastrous condition and is worth far, far less than what she owes the bank. So the bank simply taking the house, I don't think that will satisfy them, unless (I hope) by law that's all they can do. Also, because this line of credit is attached to the joint checking account, I cannot close the account in order to get my name off of it. I think before the bank will close it, they will demand payment of the line of credit.

1 Lawyer Answer
Moshe Toron Esq
Moshe Toron Esq
  • Estate Planning Lawyer
  • Cincinnati, OH
  • Licensed in Ohio

A: It depends on the loan agreement.

In any event, you are not personally responsible for the loan.

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