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Mona

Is my dead husband's mother legally my relative?

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Although all of my other credentials were in order, I was just turned down on a mortgage application by a lender that tells me their underwriter's decision was based on a rule that they don't lend on investment properties if the seller is your relative. The seller of the property I am trying to purchase is the mother of dead husband. So here is my question: Is the mother of my dead husband considered my relative according to Oregon law?

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I am quite sure there is no such law.  The closest analogy would be whether you would be considered an heir of your mother in law, if she had no will.  You would not.

 

However, the mortgage company is not basing their decision on a law, they are basing it on a "rule" or policy which may be unique to that mortgage company.  They may have such a rule provided it is not based on a violation of civil rights, such as excluding classes of race, religion, etc.  

 

It is possible the "rule" is based on potential fraud between closely related parties.  For instance, an inflated sale price which would make the loan underwater from the start.

 

 

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On 5/10/2019 at 4:09 AM, Mona said:

Is the mother of my dead husband considered my relative according to Oregon law?

 

This has nothing to do with any law.  It's the lender's decision, so the lender gets to decide who is and isn't a "relative."

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