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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.
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∙ 12y ago
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What if your home is destroyed and you have a reverse mortgage who pays the real estate tax?
You do.You do.You do.You do.
Who pays real estate taxes on a reverse mortgage?
The owner of the home that still occupies the home and has the reverse mortgage is still responsible for maintaining the home and for paying the property taxes, and all other expenses in keeping the home in good condition.
Who pays your home equity loan when you die?
Your estate is responsible. If the equity mortgage is not paid the bank will foreclose on the property.
Who normally pays all the mortgage closing costs in a no cost refinancing situation?
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.
Who pays taxes on a reverse mortgage home that is no longer lived in?
The owner of the property.The owner of the property.The owner of the property.The owner of the property.
Who pays deceased unpaid mortgage?
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
What if your home is destroyed and you have a reverse mortgage who pays the real estate tax?
You do.You do.You do.You do.
What is an insured home loan?
You can buy special life insurance which pays off your home mortgage if you die.Maybe that is what you meant by "insured home loan".
Who pays real estate taxes on a reverse mortgage?
The owner of the home that still occupies the home and has the reverse mortgage is still responsible for maintaining the home and for paying the property taxes, and all other expenses in keeping the home in good condition.
Who pays your home equity loan when you die?
Your estate is responsible. If the equity mortgage is not paid the bank will foreclose on the property.
Who pays the bills of a deceased family member?
Bills are paid from the estate of the deceased.
What happens to the land in a reverse mortgage contract?
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.
Who normally pays all the mortgage closing costs in a no cost refinancing situation?
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.
Can the private mortgage insurer sue the homeowner for the deficiency it pays to the lender after a foreclosure?
Yes, the private mortgage insurer can sue the homeowner for the deficiency. They can get a judgment against the home owner for the difference.
If you claim insolvent on property of your deceased parents who is responsible for paying the lawyer the deceased parent had for their last will and testimont and probate?
Apparently your parents had a will. They wanted a particular lawyer to probate the will. When they died, they had nothing. In that case, there is no point in probating the will and no one needs to pay to probate the will. If there was property, then the property can be sold. The estate pays the lawyer.
What are the UK laws regarding the debts of a deceased person Who pays them off?
The estate of the deceased is responsible for paying all the deceased's lawful debts.
Who pays 4 a military funeral?
the family of the deceased one
