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If you are on the mortgage, you are on the house loan. If you mean you are on the deed, but not the mortgage, then there may be an issue. Many states have a homestead or dower right that could protect you. Consult a local attorney for help!
The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.
You haven't provided important details such as what came first- the mortgage or the survivorship deed. You should consult with an attorney to determine your obligations and options regarding the mortgage.
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
You own the land subject to the mortgage.
It is going to depend on the type of deed for the property. If it was purchased while they were married, she would expect to become the sole owner of the home, subject to any mortgage.
what happens if your husband dies and i am on deed,but not on loan.am i responsible for the loan and do i keep the house/
The mortgage insurance you are referring to is most likely the standard mortgage insurance that is on a loan above 80% of the value of the house. This MI covers the lender in case of the borrower defaulting on the loan. It does nothing to help the borrower. If you are on the deed then you still own the house if your husband dies but if you cannot either refinance the mortgage or continue to pay the monthly payments then the lender will ultimately foreclose on the house and repossess it. What you need is a life insurance policy that will pay off the balance on the mortgage in case of the death of the mortgage holder.
If your husband has a will then his property is distributed accordingly, if he not have a will then the distribution of property is determined by a probate court.
If your husband dies, you will be responsible for paying the mortgage since you volunteered to be the co-guarantor. If your name is not on the deed his interest will pass to his heirs according to the laws of your state unless he executes a will making you the sole beneficiary of his real estate.
Usually in these, cases ownership will go to the surviving spouse.