I don't deal with this often as we don't currently offer any consumer real estate secured loan products. However, there a a few HELOCS on the books from around 10 years ago.
We have a HELOC (1st lien) that was made to a husband and wife. At that time they lived in the home with their son who was also on the deed but not on the note (the loan was just to the mom and dad). Due to his ownership interest he was given a ROR at that time. Since then the husband died, the wife/mom moved out and now just the son lives there. The wife (only one on the note) has decided to stop making payments.
What communication can we/ should we have with the son since it is his primary residence and he has an ownership interest? It is not his loan so it seems like we shouldn't send him the notice of default or late notices. It is his primary residence so it seems he needs some notice prior to foreclosure. Maybe it is a state specific (CA) legal issue but any thoughts would be greatly appreciated.