I require some advice regarding the aforementioned situation.
My Mother had passed away two months ago, and she left quite a debt with a few Credit Card companies.
My main concern is what will happen to our house?
As it stands, our Mother was already widowed before she passed away; she took the house out and paid for it by herself. It is the only asset she has left. Sadly, our Mother did not leave a Last Will and Testament.
We are currently in the middle of getting the Title transferred and shared between me and my two older sisters, we have already been to the BIR for the Tax Declaration, submitted the proper documentation to the Registry of Deeds; wherein we were told would take a few months to finalize.
I stand as the head of the household, as I am the only Male and the only one working.
I fear that the banks will file a claim on the property in order for the debt to be paid off. I absolutely do not want to lose our home, and I sure as HELL do not want the house which our Mother spent 30+ years paying off with blood, sweat, and tears of hard work to be liquidated and/or sold off.
I would gladly appreciate a speedy reply or advice anyone will give.