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 do.You do.You do.You do.
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.
Your estate is responsible. If the equity mortgage is not paid the bank will foreclose on the property.
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 owner of the property.The owner of the property.The owner of the property.The owner of the property.
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
You do.You do.You do.You do.
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".
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.
Your estate is responsible. If the equity mortgage is not paid the bank will foreclose on the property.
Bills are paid from the estate of the deceased.
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.
Yes, the private mortgage insurer can sue the homeowner for the deficiency. They can get a judgment against the home owner for the difference.
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.
The estate of the deceased is responsible for paying all the deceased's lawful debts.
the family of the deceased one