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Unfortunately not. A will is basically the only link/document which can tell the government to back off. Without it, they are able to cease anything and everything.
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∙ 10y ago
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Can the executor assume the mortgage of the deceased?
The executor must discuss that with the lender. If the executor is going to inherit the property the lender may agree to allow an assumption of the mortgage.
How to write Sample letter of intent to assume loan?
How to write a letter to assume a mortgage on house owned by deceased mother.
Can your spouse assume your deceased parent's mortgage?
If your spouse has a good credit record that lender should approve. However, you will need to discuss it with the lender.
When you buy a house and have a private mortgage can the seller sell the mortgage and change it?
I assume the private mortgage was granted to the seller who became the mortgagee. Yes, the mortgagee can sell her rights under the mortgage but she cannot change its terms without the written consent of the mortgagor.I assume the private mortgage was granted to the seller who became the mortgagee. Yes, the mortgagee can sell her rights under the mortgage but she cannot change its terms without the written consent of the mortgagor.I assume the private mortgage was granted to the seller who became the mortgagee. Yes, the mortgagee can sell her rights under the mortgage but she cannot change its terms without the written consent of the mortgagor.I assume the private mortgage was granted to the seller who became the mortgagee. Yes, the mortgagee can sell her rights under the mortgage but she cannot change its terms without the written consent of the mortgagor.
If our mom is deceased and she had a home in her name but a second mortgage on it and no will is it mine and my other siblings right to continue paying on the loan and then assume title of the estate?
You need to probate your mother's estate in order to pass title to the real estate to her children. The bank should be notified of her death and should also be willing to allow you to assume the mortgage payments. If the terms of the mortgage are reasonable then try to negotiate an assumption of the existing mortgage rather than a refinance. You should seek the advice of an attorney.
Is surviving spouse responsible for a mortgage that was solely taken out by the deceased spouse?
If the person wishes to keep the residence then he or she will need to reaffirm or assume the loan with the mortgage holder. Real property debts such as homes and vehicles are not treated the same as unsecured debts when it relates to the death of the account/property holder.
Can a corporation assume a residential mortgage?
Type your answer here... No, if the business is a corporation.
What is Sora s mothers name?
In kingdom hearts, you hear a mothers voice, but she has no name.So you can assume to call her "sora's Mom"
Can you get reverse mortgage if some one has passed away and left you with the mortgage to pay?
A reverse mortgage is generally granted by an elderly homeowner who needs additional income and has equity in their property. Reverse mortgages are not available to anyone and are not used to pay off existing mortgages. The mortgage on your inherited property must be paid or the lender will take possession of the property by foreclosure. Rather than trying to take out another mortgage to pay it off, you should consult with the lender to see if it will allow you to assume the existing mortgage. There may be a provision in the original mortgage that allows heirs to assume the debt. Check the mortgage document.A reverse mortgage is generally granted by an elderly homeowner who needs additional income and has equity in their property. Reverse mortgages are not available to anyone and are not used to pay off existing mortgages. The mortgage on your inherited property must be paid or the lender will take possession of the property by foreclosure. Rather than trying to take out another mortgage to pay it off, you should consult with the lender to see if it will allow you to assume the existing mortgage. There may be a provision in the original mortgage that allows heirs to assume the debt. Check the mortgage document.A reverse mortgage is generally granted by an elderly homeowner who needs additional income and has equity in their property. Reverse mortgages are not available to anyone and are not used to pay off existing mortgages. The mortgage on your inherited property must be paid or the lender will take possession of the property by foreclosure. Rather than trying to take out another mortgage to pay it off, you should consult with the lender to see if it will allow you to assume the existing mortgage. There may be a provision in the original mortgage that allows heirs to assume the debt. Check the mortgage document.A reverse mortgage is generally granted by an elderly homeowner who needs additional income and has equity in their property. Reverse mortgages are not available to anyone and are not used to pay off existing mortgages. The mortgage on your inherited property must be paid or the lender will take possession of the property by foreclosure. Rather than trying to take out another mortgage to pay it off, you should consult with the lender to see if it will allow you to assume the existing mortgage. There may be a provision in the original mortgage that allows heirs to assume the debt. Check the mortgage document.
Who was the alexandars mothers name?
I assume you mean Alexander the Great. Her name was Olympias.
If a homeowner dies how does the only heir resolve the issue of the outstanding mortgage with the lender?
I would suggest she gets legal advice on her right to reside, is she listed on the will etc, the fact that the mortgage has been maintained is good, but did the deceased have life insurance that is often intended to clear any mortgage balances so that those who are left do not end up in circumstances like this.If the person making mortgage payments is not listed as an owner on the title of the home he or she can lose the money they have paid. A home cannot be gifted unless it is owned free and clear by the deceased. A home that is still encumbered by a mortgage or lien becomes part of the deceased's estate and is adjudicated according to the probate procedure of the state where the property is located.Another perspectiveTo put it simply, the estate must be probated in order for legal title to pass to you. You should seek the advice of the attorney who handles the estate for the best way to address the outstanding mortgage. The bank may allow you to assume it or it may require that you refinance in your own name. The attorney can provide the best advice on what to do.
Can you asumme mortgage?
Yes. You can assume a mortgage. However, I personally always have a look at all these assumable mortgages for my clients before I recommend assuming a mortgage as I want to find out all the details of this mortgage. Details would include interest rate on it, amortization period, repayment options, early repayment penalties, frequency payments, etc. I then explain all these to my clients and if they agree to this then they would go ahead with the assumption of the mortgage. Please bear in mind you still have to qualify to assume a mortgage.
