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Will your mortgage company work with you on payments if your spouse dies?
Wiki User
∙ 12y ago
no,they will give you extra time to pay it but not alot of time
Wiki User
∙ 12y ago
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How long can a spouse stay in the house after the mortgage holder dies and he or she can't make payments?
forever
can the spouse live in the home after the spouse dies under a reverse mortgage?
Yes Watson. But the real question is: can the spouse spouse the home after the reverse mortgage dies live?
When your private mortgage holder dies how do you make payments?
You would continue making payments to the estate. Eventually, they will give you instructions on what must be done as far as finding another mortgage company or person to get a loan from.
What if other spouse can not pay mortgage when the other spouse dies?
Then the house needs to be sold.
What if the spouse dies and there is still a lien on the house but both parties signed the mortgage?
Most lenders will allow you to continue to make the payments as the loan is. Some may modify the loan. As long as you can continue the payments, you will be ok.
When a former spouse dies does the ex spouse whose name is on the mortgage become the sole owner of the property?
No, a person whose name is on the DEED may become the sole owner. The person whose name is on the MORTGAGE may have the priviledge of making the payments! Better contact the lawyer who handled your divorce for some advice.
Mortgage is in your name spouse dies will mortgage life insurance pay off house?
If the mortgage is in your name it would not be affected by the death of your spouse. Mortgage life insurance is coverage that is taken out so that your house would be paid for in the event of your death.
When mortgage holders die what are mine and the mortgage company rights?
If a mortgage holder (mortgagee) dies the rights under the mortgage pass to her heirs. If a mortgagor (borrower) dies the mortgage company has a lien on real estate that still must be paid.
What happens when a co-signer on mortgage dies would the estate for the co-signer have to pay off the mortgage?
if your on the title be prepared to take over the payments.
If your husband has a reverse mortgage and you are not 62 what happens to you with the house if he dies?
The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.
What happens to a mortgage when one spouse dies?
Generally, the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.
Is the mortgage paid out if your spouse dies?
Only if you cover that issue when you buy your insurance. It usually costs extra (doesn't everything!) but it insures that the mortgage balance is taken care of
