Learn how to deal with a reverse mortgage after death in this in-depth article from our reverse mortgage loan maturity experts.
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Dying with a mortgage: What happens to your home? – Interest – You took out a reverse mortgage prior to your death. This is another matter entirely. A reverse mortgage is a lien on the home. If there is no co-borrower – or the co-borrower is also dead or no longer living in the home – the loan comes due when the borrower dies.
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If you are an executor or an heir, you probably have a legal requirement to let the mortgage lender know that a homeowner incurring the mortgage has died. But that doesn’t necessarily mean you.
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My father died and had no will. He still owed a – Q&A – Avvo – My father died and had no will. He still owed a mortgage and small home equity loan. I was living with him at his time of death Ijust paid his mortgage and his home equity loan. However, I am scared.
Is the mortgage solely in your father’s name, and is your name not on the mortgage at all? If that is the case, I would probably recommend that you seek a legal consultation on this matter, since normally, when somebody has a mortgage on a house, their name has to be on the deed (because the.
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What Heirs Need to Know About Reverse Mortgages – Kiplinger – What Heirs Need to Know About Reverse Mortgages.. If one spouse has died but the surviving spouse is listed as a borrower on the reverse mortgage, he or she can continue to live in the home.
Am I responsible for deceased father's mortgage – AgingCare.com – my father had a reverse mortgage and he exhausted all of it before his death. I was told it was a simple process, we are giving the home back to the reverse mortgage company with a deed in lieu of foreclosure.