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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.
What else can I help you with?
My spouse passed away. Do I need to contact the mortgage holder to remove his name from the mortgage?
No, you dont unless he left the house to someone else. then you pay someone who works for the bank to back date the removal of his name from your new morgage. Good luck
What if you file bankuptcy and have a reverse mortgage?
The reverse mortgage is typically unaffected by the bankruptcy as the mortgage is usually left out of the bankruptcy- that is a conversation you need to have with your attorney however. The bankruptcy court may look at the amount of equity you have in your home and determine what type of bankruptcy you qualify for. A reverse mortgage can even be used to pay off a bankruptcy or a mortgage in foreclosure as there are no credit requirements on them. I suggest talking to a bankruptcy attorney for information on what is available to you from the courts side of things.
Finding a will for someone who passed away?
how do I find out about someone who told me they left something in there will for me
Why are angels left on graves?
=Angels are left on graves to watch over the person who passed away and to guide them to Heaven.=
When Mary Owens' husband Ralph passed away about three months ago he left behind?
He left behind about $900,000.
Do I have to pay taxes on a money market my mother left me when she passed away in Jan. 2015 if I roll it over into my annuity account?
Do I have to pay taxes on a money market my mother left me when she passed away in jan. 2015 if I roll it over into my annuity account?
What happens to a reverse mortgage when a person dies?
The person entitled to the home may do one of the following. 1. Refinance the home into their own name. 2. Sell the home, pay off the existing mortgage and keep any assets that are left over. 3. If the person that passed owes more than the home was worth, the heirs may walk away from the home. No other assets may be attached. 4. Upon the death of the mortgagor the heirs must pay off the mortgage or the lender will take possession of the property. After the owner's death the bank will allow the heirs a time period during which they can pay off the mortgage if they want to keep the property. However, if they do not then the bank will take the property.
Is a reverse mortgage available in Canada?
Reverse Mortgages are available in Canada and there are very good reasons to go for one if you are in the right situation. Its very important to do a thorough screening for clients before recommending them a reverse mortgage. We usually will take into account their equity, how much cash flow they need, do they need a lump sum amount upfront, How much equity do they want left in the house and lots of other things with all our clients.
Who was the last Egyptian ruler?
Cleopatra, she passed away so there was no more royalty left in Egypt
If my mother passed away and left me her car and my step dad want give it to me what can I do about it?
Then you get the car! Easy!
Are left pedals reverse thread or standard?
Left are reverse threaded.
Are there any tolkiens left today?
As of today, there are no living members of the Tolkien family who are direct descendants of J.R.R. Tolkien. J.R.R. Tolkien passed away in 1973, and his wife Edith Tolkien passed away in 1971. Their children have also all since passed away.
