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Can a daughter continue to make the mortgage payments on a house she lives in but that is in her father's name after the father dies if there are no outstanding estate bills and no other beneficiaries?
Wiki User
∙ 18y ago
Yes you can. Make an appointment with a loans officer at the bank your mortgage is at. They will take you through all the paperwork and answer any questions you may have. You will have to have proof of death (death certificate) and possibly the birth certificate of the deceased. Phone first and see what legal documents they require. Be sure you phone other banks and check out the prime rate of mortgages so you can dicker at the bank for a good mortgage rate. Very sorry to hear about your father passing away. Marcy
Wiki User
∙ 18y ago
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What is the definition of mortgage decreasing term asurance?
Mortgage decreasing term assurance is a type of mortgage life policy. The size of the policy decreases as the outstanding balance of the mortgage reaches zero.
Can a father and daughter have a mortgage together?
Yes, they can.
What is the use of a consolidate mortgage?
A consolidated mortgage is used to combine two or more outstanding mortgages. The mortgages may or may not be the same property. Sometimes a consolidated mortgage results in lower interest rates.
Will your be son be responsible for the mortgage on the property left to him in your will?
Yes, unless you arrange for insurance to pay the mortgage in the event of your death. Your son would inherit the property subject to the mortgage. He would need to continue paying the mortgage or the bank will take possession of the property by foreclosure.Yes, unless you arrange for insurance to pay the mortgage in the event of your death. Your son would inherit the property subject to the mortgage. He would need to continue paying the mortgage or the bank will take possession of the property by foreclosure.Yes, unless you arrange for insurance to pay the mortgage in the event of your death. Your son would inherit the property subject to the mortgage. He would need to continue paying the mortgage or the bank will take possession of the property by foreclosure.Yes, unless you arrange for insurance to pay the mortgage in the event of your death. Your son would inherit the property subject to the mortgage. He would need to continue paying the mortgage or the bank will take possession of the property by foreclosure.
Is Mortgage Protection Life Insurance a good idea?
Mortgage Protection Life Insurance is a good idea if you want to protect your mortgage. It pays the outstanding balance of your mortgage if the mortgagor (insured person) dies. Mortgage protection life insurance coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as the outstanding mortgage debt decreases. Usually, the proceeds of the mortgage protection life insurance are paid to the beneficiary, which is the mortgage company holding the mortgage loan. Some people choose instead to buy level term life insurance in the amount of the mortgage, and the benefits are paid to the insured's beneficiary (family member), who in turn can use the proceeds for any reason, including to pay the mortgage.
Can daughter continue to pay mother's mortgage after notifying the mortgage company?
I assume you notified the mortgage company that the daughter is making the monthly mortgage payments on behalf of the mother. If that is the case, the daughter really isn't benefitting from making these payments from the credit agencies, proving mortgage history, and establishing credit on her own. Essentially, the mother would have to refinance the loan to get the daughter on the mortgage with her in order for the daughter to benefit. Even a quit claim deed would only add the daughter to the title, and the mother would ultimately be responsible for the monthly mortgage payments. I hope this information helps. Regards, Total Mortgage Services
Can surviving children leave the deed on a house in the parents name?
This will depend on the lender. Normally the estate can continue the mortgage for a reasonable period of time. It is up to the finance company to determine whether they trust the beneficiaries to continue the mortgage.
Can a family member buy the house that is in a reverse mortgage?
Only if they pay off the outstanding debt owed on the mortgageOnly if they pay off the outstanding debt owed on the mortgageOnly if they pay off the outstanding debt owed on the mortgageOnly if they pay off the outstanding debt owed on the mortgage
Can an executor allow a house to be foreclosed on if there is no money in the estate to pay monthly mortgage?
Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.
Buying a house with cash for daughter?
Cash is one of the easiest ways to buy a home. As long as there will be no mortgage, the sourcing of the funds is not going to be important. You may consider putting your name on the deed as right of survival, just as a backup, if she does not have beneficiaries.
What is the definition of mortgage decreasing term asurance?
Mortgage decreasing term assurance is a type of mortgage life policy. The size of the policy decreases as the outstanding balance of the mortgage reaches zero.
What is an unreleased mortgage?
An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.
Who is legally responsible for a mortgage after death?
The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.
Should I buy mortgage insurance for a home?
You will have to buy mortgage insurance for a home. I don't believe it is an option as it is required while you have an outstanding mortgage. Look into the best available.
What is a bi-weekly mortgage calculator?
It is a mortgage where you can pay of more on your outstanding mortgage.If you have a cash sum you can make a bigger payment to reduce your mortgage thus paying less interest and reducing the term of your mortgage.
Can I leave a mortgage to my daughter in my will?
Yes, if you are the owner of the mortgage or the mortgagee.Yes, if you are the owner of the mortgage or the mortgagee.Yes, if you are the owner of the mortgage or the mortgagee.Yes, if you are the owner of the mortgage or the mortgagee.
Can a father and daughter have a mortgage together?
Yes, they can.
