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Who is responsible for my deceased 51-year old son's mortgage on his home?
Wiki User
∙ 13y ago
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoThe estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
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Who pays the mortgage on deceased parent's home?
Unless there was some sort of mortgage insurance, the estate is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure. If the heirs want to keep the property they must keep paying the mortgage.
You just bought property and there is a mobile home on it the owner is deceased are you responsible for the mortgage loan and back payments?
Do you want the mobile home? If yes then you must pay. If not, then let the bank come and repossess it.
My mother is deceased I am the executor of her estate there was a mortgage on a mobile home and my name is not on the loan so if the mortgage company forecloses am I liable for the loan amount?
If the mobile home and mortgage are in your mother's name alone then you are not personally responsible for paying the loan. However, your mother's estate is responsible for her debts. If the loan isn't paid the bank will foreclose on the property and is entitled to any other assets if there is a deficiency.
What if deceased parent's home mortgage is more than the property can be sold for?
The bank will take possession of the property by foreclosure. If the mortgage is in the deceased parent's name it will not affect anyone's credit.
Who is responsible for deceased fiances debt when owing a house together?
Since the couple were not married the surviving person is only responsible for joint debts only. The status of the home ownership depends upon how the property is titled and the terms of the mortgage agreement.
Who is responsible for a home equity line of credit after death?
The estate of the deceased.
What if I can't refinance my deceased parents home?
Continue paying the mortgage. Don't mention that your parents are deceased. Unless the mortgagee is an individual, no one will notice a thing.
Who is responsible for the home repairs when in a reverse mortgage?
The home owner is responsible for repairs to the property. Depending on the amount available under the reverse mortgage, funds from the reverse loan may be available to make those repairs.
What can the mortgage company do if the mortgage cannot be paid anymore on a deceased persons home?
I HAVE ALREADY PAID 40,000 INTI THE HOME I CANT PAY ANYMORE THE HOUSE PRICE WAS LOWERD 5X AND IT WAS ON THE MARKET 456 DAYS I MAILED IN THE KEYS TO THE MORTGAGE COMPANY WITH A LETTER
What if your dad had a home equity loan are the heirs now responsible to pay that off?
If your deceased father had a home equity loan are the heirs now responsible for paying it off IF THEY SELL THE HOME?
What loans were partially responsible for the home mortgage crisis during the 2000s?
Sub-prime
What is the role of a mortgage advisor?
A mortgage advisor is responsible for assisting you in finding what is the best process for you to follow through with when it comes to finding and financing a home.
