B of A HELOC

[Arcinio Arauz]

Hello all,

Say I have a house (inherited). I conduct a title search to find a possible lien from B of A for a HELOC. The HELOC hasn't been paid since 2011. It's now 2016 (as you know). I transfer title into my name, the HELOC is under deceased owner's name. I phone B of A...the HELOC dept says the mortgage dept has taken the account. The mortgage dept says the HELOC dept is handling the account...the death dept says they see no amount due.

I went back to the recorder's office and see the HELOC but no reconveyance. Nobody at B of A can give me any information because they say the account isn't in my name even though the house is! What will happen? As of yet, no NODs or NOTS notices. What happens when a debt is due and the one that took upon the debt has passed and it doesn't get paid. I would like to work with B of A but they say they can't give any info because I'm not the account holder.

[Kyle J.]

Originally posted by @Arcinio Arauz:

What happens when a debt is due and the one that took upon the debt has passed and it doesn't get paid.   

Are you sure there is a debt due? Just because there was/is a HELOC doesn't mean there was a balance on it. It could just have been an open HELOC for which BofA would have recorded a DOT, but that doesn't necessarily mean there was a balance on the account.