Home equity, payable on death. I cannot deposit brothers checks as I have not probated, Dad has died, will the bank give back my $16,000 that I have paid towards Home Equity? Also cashiers checks made to deceased, recently informed that a payable on death insurance policy on home equity after giving bank 16,000 so home would not foreclose... whose fault is this, mine or bank not informing me? Perhaps when I become the beneficiary they will acknowledge.
You posted Oct 3 and asked the same question about what you paid out. I guess Dad passed since then? So a lot on your plate. You received some answers then about the 16k u put out.
First thing you have to do is probate your brothers will. Until you get the short certificate not much you can do or ask. Then you take it to the bank and have them give you the insurance information so you can put in a claim. Now the problem you may have if its Mortgage insurance, it will only pay the balance of the Mortgage. Now, I am not sure if that is at time of death or at time you applied. Getting your 16k back is a question for the insurance company. Also, who is the beneficiary is on the policy. You, your Dad or the bank. For the checks, you will either be able to deposit into brother's acct or have to set up an "estate of" acct. Has the bank put a freeze on brothers accts? If not, and you have his info, ask if u can deposit the checks. There are bank officers that can help you. I wouldn't deal with a teller in this instance.
Do you inherit brother's house. Do u plan on selling, if so, then you will get your 16k then because the bank got their money from insurance.
If the process gets overwhelming or you hit obstacles you may need a lawyer.