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What action might a lender take if they discover the borrowers are deceased and someone else has been making the mortgage payments?
Rosie007
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 laws.
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