No. The mortgage Company wants their money. I think a mortgage lender could more help you with this one.
The executor of the will would be responsible
The transfer is done by the executor of the estate once the estate is settled. The will indicates who gets the rights in the property, but they are still subject to mortgage and liens and other items.
The estate is responsible for the mortgage.The estate is responsible for the mortgage.The estate is responsible for the mortgage.The estate is responsible for the mortgage.
A joint venture can take different forms depending on the agreement between the parties. A business arrangement between a mortgage company and a real estate company may simply consist of the real estate company referring all its buyers to the mortgage company for financing.
In Virginia, as in all states, the estate is responsible for all the debts of the deceased. That means before the estate can be settled, all medical bills have to be cleared. If there is not enough in the estate to cover them, the husband may not get anything.
They can collect before it is settled
no one unless their name was also on the debt. like a combined credit card, or a two party mortgage. the advertizement by the executor for any claims against the estate allows for claims to be made under a certain time frame. after that the estate is settled, depts paid and estate closed or probated.
The mortgage debt is the responsibility of the estate. The mortgage will have to be satisfied before the estate can be closed. Before anything in the estate can be distributed, the debts have to be cleared.
It may be enforced through a lawsuit if the foreclosed property is not sufficient to pay the actual debt.
what means 'mortgage value' as the real estate property
The beneficiary can buy the property from the estate. That means the mortgage must be settled and the price must be market value.
Consult the attorney that is handling your probate action for advice. You may have to come to some agreement to partititon the home from the remainder of estate in order to settle the estate.