Upcoming Foreclosures

can a bank take ownership of property before a auction or foreclosure sale of property?

if the owner is deceased but has will giving to son and son is on title of bank mortage

Public Comments

1. I believe they have to, usually by having someone come out and change the locks or adding a lock prior to an auction, but that may vary depending on where you live. It doesn't matter if the son was on title, unless the father had life insurance to pay the mortgage off in full he should have been making the payments if he wanted to keep the house.
2. Yes. the son should have immediately contacted the bank. If you want to work together you need to contact the bank asap- but they can take over ownership - if no payments have been made and no answers to summons have been attempted.- They are the ones that will take it to auction or or sell it as a foreclosure.