the one that stays behind.Not the one that moves out
When in a no cost refinancing situation the person who has the mortgage actually pays for them however they are built into the financing or mortgage itself.
The executor of the will would be responsible
The estate pays the cost to maintain the estate. The house may have to be sold if the mortgage cannot be paid. If someone wants the house, they may wish to pay the mortgage.
That will be decided by the judge or your attorneys.
The mortgage companies will end up fighting over the proceeds when your house is sold after foreclosure.
In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.
When in a no cost refinancing situation the person who has the mortgage actually pays for them however they are built into the financing or mortgage itself.
Your question is _________?
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
Whoever the judge orders to.
The funds from the new mortgage are advanced to your solicitor who pays out the current first mortgage.
the non-custodial parent
The executor of the will would be responsible
Yes. The best thing would be to either get the house in the divorce, or get everything, including the mortgage, signed over to your soon to be ex.
The estate pays the cost to maintain the estate. The house may have to be sold if the mortgage cannot be paid. If someone wants the house, they may wish to pay the mortgage.
You MUST address this issue in the negotiations for the Separation Agreement. It MUST be decided at the time of the divorce. The ownership of the property and the responsibility for payment of the mortgage must be arranged as part of the divorce proceeding. Your brief question doesn't provide much detail. Your divorce attorney should be provided with all the details and the matter should be addressed by the parties and the bank.
You AND your husband are the owners of the house. Should you divorce, you have an equal investment in the house. The mortgage is in your husband's name, but should he die, you are responsible for this bill. If you default on the loan, you will foreclose on the house. The mortgage company does not care who pays the loan off, as long as it gets paid.