Law & Legal Issues
Money Management

What action might a lender take if they discover the borrowers are deceased and someone else has been making the mortgage payments?

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Wiki User
2006-07-14 18:04:21

That's difficult to say without knowing the terms of the

original contract and perhaps the way the property is held under

state law. The lender can accelerate the loan making the entire

amount owed due upon demand or demand the property be refinanced by

the present occupant(s) or other action. Another contributing

factor is how the property was partitioned under the state probate


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