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What is the responsibility of the estate executor regarding a decedent's mortgage?
Wiki User
∙ 13y ago
The estate is responsible for the debts of the decedent. If the family wants to keep the property the mortgage must be paid or the bank will take possession by foreclosure.
Wiki User
∙ 13y ago
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Can the executor assume the mortgage of the deceased?
The executor must discuss that with the lender. If the executor is going to inherit the property the lender may agree to allow an assumption of the mortgage.
Is the executor of the estate liable for mortgage if foreclosure?
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
Who pays for mortgage until estate is settled?
The executor of the will would be responsible
Can you as co-executor be sued for the debt of your parent's foreclosed mortgage?
The estate is responsible for the debts of the decedent. The executor is not personally liable. If it is necessary to bring suit the executor's name will be recited as the respondent as the executor of the estate and not as an individual.
Where can I find more information regarding refinancing a mortgage?
One can find information regarding refinancing a mortgage by contacting a mortgage agent (such agent can be found in the local newspaper adds) or by going to a bank.
If a decedents home is left out of their trust is the executor still liable to pay the mortgage?
The home is a part of the estate. It does not matter that it is or is not in a trust. The executor is responsible for taking care of all of the assets of the estate.
Can the executor assume the mortgage of the deceased?
The executor must discuss that with the lender. If the executor is going to inherit the property the lender may agree to allow an assumption of the mortgage.
Can an executor take out a mortgage on the estate to defend it if the house is the only asset and the will is being contested?
That would be their responsibility, to defend the estate. They can use the assets of the estate to do that.
If someone is the executor of estate and wants to do a modification on a loan they are not on is that an option?
The decision to allow the executor to modify an existing mortgage is up to the lender. The executor could refinance the property with a new mortgage if allowed by the court.
Who pays deceased unpaid mortgage?
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
Can an executor allow a house to be foreclosed on if there is no money in the estate to pay monthly mortgage?
Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.
Is the executor of the estate liable for mortgage if foreclosure?
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
Who pays for mortgage until estate is settled?
The executor of the will would be responsible
Can you as co-executor be sued for the debt of your parent's foreclosed mortgage?
The estate is responsible for the debts of the decedent. The executor is not personally liable. If it is necessary to bring suit the executor's name will be recited as the respondent as the executor of the estate and not as an individual.
Where can I find more information regarding refinancing a mortgage?
One can find information regarding refinancing a mortgage by contacting a mortgage agent (such agent can be found in the local newspaper adds) or by going to a bank.
Where can one find information regarding adverse mortgage lenders?
One can find information regarding adverse mortgage lenders through the Council of Mortgage Lenders. One may also find this type of information in a newspaper or a mortgage magazine.
Should husband and wife both be on mortgage?
The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.
