You really need to talk to your legal counsel. Since, an estate was opened but the bank didn't make a claim, and the estate is now closed you may have no recourse for collection.
Foreclose Even if Keeping Up w/ Payments?
The Deed of Trust says that death is considered default. The dead borrower's family is keeping up with the payments but causing major damage to the house (appraisal conducted shows this). Can the bank foreclose even if the payments are being kept up by the family? If so, do you have to wait 120 days if the borrower is dead? Also, an estate was opened but the bank didn't make a claim, and the estate is now closed.
First published on 05/26/2014