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When I pass away and my daughter inherits my home will the home mortgage increase?
Wiki User
∙ 16y ago
If the mortgage is not in her name as a joint tenant, the house will have to be made a part of the estate. The estate will have to satisfy the mortgage. The bank may allow the new owner to assume the existing mortgage, but they are more likely to want to establish a new one. You should really consult an attorney in your area for estate planning purposes.
Wiki User
∙ 16y ago
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Can a parent add a son or daughter to their reverse mortgage when one parent passes away and son or daughter is not quite 62 yrs old?
Typically, to be eligible to be added to a reverse mortgage, the son or daughter would need to meet the age requirement. If they are not yet 62 years old, it may not be possible to add them to the reverse mortgage. It would be best to consult with the reverse mortgage lender or a financial advisor to explore available options.
Your husband passed away you have joint mortgage do you still have to pay mortgage?
yes
Which is the act of taking away a mortgage?
The act of taking away a mortgage is known as mortgage discharge or mortgage payoff. It refers to the process of paying off the outstanding balance on a mortgage loan, thereby releasing the borrower from the obligation to repay the debt. Once the mortgage is discharged, the borrower gains full ownership of the property.
What services are available to help determine if one should simply walk away from a home mortgage?
One should contact the bank or mortgage company where one obtained the mortgage. This institution can provide all of the information needed to determine if one should simply walk away from a home mortgage.
Are you able to still leave a mortgage in Minnesota after BK and not be liable?
Yes, you can walk away from a mortgage and not be liable for a deficiency (even in recourse states) if the mortgage was listed in the bankruptcy.
Can you walk away from mortgage if husband not paying mortgage and you are separated?
You cannot "walk away" if you also signed the note and mortgage. In that case you must pay even if your husband doesn't. If the mortgage isn't paid, the property will be taken by foreclosure and your credit will be ruined. You should consult with an attorney who can review your situation and explain your options.
If my child inherits part of his grandfather's estate because HIS father passed away would he be able to give me some money?
yes
If a mother and daughter are both listed on the mortgage for a home and the mother passes away does the daughter listed on the mortgage become the sole beneficiary?
Signing a mortgage does not give you an interest in the real estate. An interest in real estate is acquired by deed. Hopefully you are also on the deed to the property as the joint owner with the right of survivorship. That would make you the sole owner of the property upon your mother's death. However, if you are not on the deed and you signed the mortgage then your mother's death would make you solely responsible to the lender for paying the mortgage and you would need to probate her estate so that title to the real estate would pass to her heirs. If there are other siblings they would inherit an equal interest in the property and perhaps you could make a claim against the estate for your mother's half of the mortgage balance. You should speak with an attorney.
What can one benefit out of mortgage life insurance?
Mortgage life insurance provides security for your family in the event that you were to pass away. It ensures that if that does occur and you have mortgage life insurance then your repayments will be covered.
If my stepfather runs away is my mother responsible for the mortgage?
i gess so
Did Eminem's daughter get taking away?
no
Does brax have a daughter in home and away?
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