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Your dad died and mother wants reverse mortgage can she get one?
Wiki User
∙ 12y ago
Yes, as long as she and the property meet the lenders requirements. You should speak with several lenders paying close attention to fees, upfront payments and how quickly the amount owed will increase every year.
Wiki User
∙ 12y ago
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If my sister and her husband took out a mortgage with my mom as a cosigner and are now behind in their mortgage payments will my mom's estate responsible for the mortgage?
Each person who co-signs a mortgage is equally responsible for paying the mortgage. If your mother has died then her estate must be probated. The debts of the decedent must be paid before any property can be distributed to the heirs. You need to consult with an attorney who specializes in probate in your area who could review your situation and determine what the obligations are regarding the mortgage.
How do you purchase the balance of home that had a Reverse Mortgage on it?
First, you must have legal standing to pay off the mortgage. That means you must be the original mortgagor or an heir of the original mortgagor. You must contact the bank that holds the mortgage and pay off all amounts due. Otherwise, if the mortgagor has died and the bank owns the property, you can contact the bank and let it know you are interested in purchasing the property.
Your parents died leaving a mortgage on the heir property are the heirs obligated to pay the balance of the mortgage?
Yes. If you inherit a piece of property, including a house with a mortgage, you are legally obligated to pay its bills.
Are adult children liable for parents mortgage debt?
No, not as long as they didn't co-sign the mortgage. However, if the parents have died and their property is subject to a mortgage the lender will foreclose on the property if the mortgage isn't paid. If the heirs want to keep or sell the property they must keep the mortgage payments current.
When did Halifax mortgage pass away?
Halifax Mortgage is a company. They are still in business and operating effectively today in the UK and in other parts of the world. They have not died yet.
Grandma died and she has a reverse mortgage what happens next?
When a homeowner with a reverse mortgage passes away, the loan typically becomes due. The heirs or estate of the deceased have the option to repay the loan and keep the property, sell the property to pay off the loan, or walk away from the property if the loan balance is greater than the home's value. It's important to contact the loan servicer to discuss the next steps and potential options.
Can I move into mom's house if she died with out a will and I am only heir?
Depends on whether your Mother owned the house. While you would inherit your Mother's financial interest in the house, if there is a mortgage on the home, then the mortgageholder also has a financial interest. They may want to be paid the outstanding amount still owed on the mortgage.
If my sister and her husband took out a mortgage with my mom as a cosigner and are now behind in their mortgage payments will my mom's estate responsible for the mortgage?
Each person who co-signs a mortgage is equally responsible for paying the mortgage. If your mother has died then her estate must be probated. The debts of the decedent must be paid before any property can be distributed to the heirs. You need to consult with an attorney who specializes in probate in your area who could review your situation and determine what the obligations are regarding the mortgage.
What does J.K. Rowling want?
J k Rowling wants a cure for MS, multiple syndrome because her mother died of MS.
How do you purchase the balance of home that had a Reverse Mortgage on it?
First, you must have legal standing to pay off the mortgage. That means you must be the original mortgagor or an heir of the original mortgagor. You must contact the bank that holds the mortgage and pay off all amounts due. Otherwise, if the mortgagor has died and the bank owns the property, you can contact the bank and let it know you are interested in purchasing the property.
What happens if your mother dies and she owns the mortgage on your brother's house but your brother is the only one on the deed?
Chances are that you mother owned the property, borrowed against it and then deeded it to your brother. Your brother took title subject to the mortage. The best thing to do is to encourage your brother to refinance and get a loan in his name. The existing loan might have a clause that accelerates payment in case of the death of the borrower. It is unclear if the lender would be willing ot continue accepting the payments, but your brother will lose the house in foreclosure if he doesn't make the payments.A Different PerspectiveYou stated that your mother owned the mortgage. That sounds like your brother purchased a home and your mother loaned him the money. That means your brother owes a debt to her estate. If she had a will her property, including the mortgage, will pass according to the provisions in the will. If she died intestate, without a will, her property, including the mortgage, will pass to her heirs at law according to the state laws of intestacy. Your brother owes the balance of the mortgage to his mother's heirs and that may include himself. You can check the laws of intestacy for your state at the related question link provided below. You can add more details on the discussion page.
Is there any help for a relative on disability who was living with his mother in a mobile home which still has mortgage and she has since died and he may not be able to keep home?
It can be done. Talk to a lawyer - they may be able to help you.
When Hades mother died?
Rhea, mother of Hades - never died.
What happened to Mother Theresa's mother and sister?
Mother Teresa's sister would take care of her mother then her mother died and after the death of her mother, Mother Teresa's sister had died!
Your mom passed away 6 mos ago how can you find out if there was an death clause on her home the amount that is left is 8000.00?
You can read the recorded mortgage document at the land records office. The staff could help you to locate the recorded mortgage under your mother's name. You would be looking for a "due on death" clause that requires the mortgage be paid in full upon the death of the mortgagor. Generally, there is also a clause that requires the mortgage to be paid in full if there is any change in ownership which would include the change caused by the death of the mortgagor. You could just keep making the payments. That would work out the best if you had a joint checking account with your mother. You could keep making the mortgage payments by using that account. Keep in mind that if the property was solely in your mother's name then the estate must be probated for title to pass to the heirs. In that case notice of your mother's death must be published and the bank may discover that your mother has died and demand payment. If that happens perhaps you could negotiate a refinance of the balance due.
Relative of the Buddha died soon after he was born?
Buddhas mother died shortly after he was born.
Your parents died leaving a mortgage on the heir property are the heirs obligated to pay the balance of the mortgage?
Yes. If you inherit a piece of property, including a house with a mortgage, you are legally obligated to pay its bills.
