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If the mortgage on a house is paid do you still have to take it through probate?
Cmccurley
That depends on several factors, the main one being the state probate laws, if there was a valid will, how the property is titled, and if the deceased had any outstanding debts.
Wiki User
∙ 18y ago
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Do you still owe the house when you enter to reverse mortgage?
You still own the house if you have a reverse mortgage, yes.
If your mom died leaving a mortgage how can you transfer the mortgage over into your name?
I am so sorry your mother passed away. If you are executor (male) executrix (female) or heir in the Will, then it will go into Probate. Probate makes sure all debts are paid for before the heirs (such as yourself) receives the balance of the Estate. You must contact a lawyer to do this and they will be sure that all debts, mortgages, etc., are paid off and the Probate is finalized. If the mortgage is more than the monies left in your mother's Estate you still have to go through Probate so all bills are paid off, get the total amount your mother owes (hopefully you will get some money) but should her debts be more than what your mother had left in total, then you will have to go to the banking institution after Probate and take a mortgage out on that property. Be sure you have been left in the Will. If your mother has divided the Will between siblings or any other persons then I am afraid you will have to discuss the fact you want to buy the house. EXAMPLE: If the house was bought at $200,000 and your mother has a mortgage left of $60,000, and she owes taxes and other debts then unless she has other stocks/bonds/savings accounts, etc., to pay these bills off, the house will have to be sold to pay off these debts. This is when you could go into your banking insitution and ask to take over the mortgage on the house (providing the other heirs are in agreement) which I am sure they will be. Good luck Marcy
Can you put a house with a mortgage in a trust?
Yes. There are almost no obstacles if you still own and live in the house after.
Do you still have to pay back your mortgage if your house for sale?
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
Lisa and house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
$73,000
Do you still owe the house when you enter to reverse mortgage?
You still own the house if you have a reverse mortgage, yes.
Do we have to go to probate for someone to buy her house.Your grandma died 10 days ago without a will She has a house she owed on on and a vehicle she was still paying on What happens now?
Without a will, her estate will have to go through probate.
Can a co executor sell a house that is still in probate and possible a pending forecloser?
With the permission of the court, certainly. And you can't get out of probate until something is done with the house.
House was repossess can you still get a mortgage?
it is quite unlikely that you will be able to get a mortgage lender with that history.
If your mom died leaving a mortgage how can you transfer the mortgage over into your name?
I am so sorry your mother passed away. If you are executor (male) executrix (female) or heir in the Will, then it will go into Probate. Probate makes sure all debts are paid for before the heirs (such as yourself) receives the balance of the Estate. You must contact a lawyer to do this and they will be sure that all debts, mortgages, etc., are paid off and the Probate is finalized. If the mortgage is more than the monies left in your mother's Estate you still have to go through Probate so all bills are paid off, get the total amount your mother owes (hopefully you will get some money) but should her debts be more than what your mother had left in total, then you will have to go to the banking institution after Probate and take a mortgage out on that property. Be sure you have been left in the Will. If your mother has divided the Will between siblings or any other persons then I am afraid you will have to discuss the fact you want to buy the house. EXAMPLE: If the house was bought at $200,000 and your mother has a mortgage left of $60,000, and she owes taxes and other debts then unless she has other stocks/bonds/savings accounts, etc., to pay these bills off, the house will have to be sold to pay off these debts. This is when you could go into your banking insitution and ask to take over the mortgage on the house (providing the other heirs are in agreement) which I am sure they will be. Good luck Marcy
Can you put a house with a mortgage in a trust?
Yes. There are almost no obstacles if you still own and live in the house after.
Does life insurance still go through probate if your name is the beneficiary in NH?
That is the beauty of life insurance~! With a properly named beneficiary there are no taxes and it avoids probate!
Do you still have to pay back your mortgage if your house for sale?
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
What can you do with the contents of a house that was left to us in a will but is still under probate?
Don't do anything. The property left to you does not legally become yours until such time as the deceased's will has completed the probate process.
Who has to leave the house when a legal separation is taking place and who is responsible for paying the mortgage?
You can be separated and still live in the same house. No one has to move.The mortgage payment is made by the person whos name is on the mortgage. If it is in both names you are both responsible.
Lisa's house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
73000
Lisa and house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
$73,000
