0
Mother passed away. How do you transfer the existing mortgage to your name?
Wiki User
∙ 14y ago
You need to discuss this issue with the bank. It may require that you refinance the property. In that case you would need to be in a position to qualify for the loan. Some lenders will allow an assumption of the mortgage.
In order for title to the real estate to pass to you the estate must be probated. You should consult with an attorney who specializes in probate in your area who can review your situation and explain your options. Perhaps she could negotiate with the bank for you.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
My mother passed away I have siblings and no one has reported her death to the mortgage company we can't afford the house payments is it the law that you have to report it to the mortgage company?
No, once the mortgage company begins the foreclosure process they will find out that your mother is dead. This will not stop the foreclosure process. The only way to avoid that is to make the payments.
Your husband passed away you have joint mortgage do you still have to pay mortgage?
yes
Can you get reverse mortgage if some one has passed away and left you with the mortgage to pay?
A reverse mortgage is generally granted by an elderly homeowner who needs additional income and has equity in their property. Reverse mortgages are not available to anyone and are not used to pay off existing mortgages. The mortgage on your inherited property must be paid or the lender will take possession of the property by foreclosure. Rather than trying to take out another mortgage to pay it off, you should consult with the lender to see if it will allow you to assume the existing mortgage. There may be a provision in the original mortgage that allows heirs to assume the debt. Check the mortgage document.A reverse mortgage is generally granted by an elderly homeowner who needs additional income and has equity in their property. Reverse mortgages are not available to anyone and are not used to pay off existing mortgages. The mortgage on your inherited property must be paid or the lender will take possession of the property by foreclosure. Rather than trying to take out another mortgage to pay it off, you should consult with the lender to see if it will allow you to assume the existing mortgage. There may be a provision in the original mortgage that allows heirs to assume the debt. Check the mortgage document.A reverse mortgage is generally granted by an elderly homeowner who needs additional income and has equity in their property. Reverse mortgages are not available to anyone and are not used to pay off existing mortgages. The mortgage on your inherited property must be paid or the lender will take possession of the property by foreclosure. Rather than trying to take out another mortgage to pay it off, you should consult with the lender to see if it will allow you to assume the existing mortgage. There may be a provision in the original mortgage that allows heirs to assume the debt. Check the mortgage document.A reverse mortgage is generally granted by an elderly homeowner who needs additional income and has equity in their property. Reverse mortgages are not available to anyone and are not used to pay off existing mortgages. The mortgage on your inherited property must be paid or the lender will take possession of the property by foreclosure. Rather than trying to take out another mortgage to pay it off, you should consult with the lender to see if it will allow you to assume the existing mortgage. There may be a provision in the original mortgage that allows heirs to assume the debt. Check the mortgage document.
Your father had stock shares in Thousand Trails Inc and has passed away how can your mother sell them?
The executor of the estate can make arrangements to sell or transfer the stocks.
If I am driving a car in my mother's name and she passed away and I am the person who has made all the payments how easy is it to transfer the name on the title?
You would have to talk with the executor of the estate. If you can prove the payments were made by you, you should be able to work it out, but the probate court will have to okay the transfer.
Are vaccinations examples of natural passive immunity?
No, vaccinations are examples of artificial passive immunity. Natural passive immunity is passed from mother to infant either through breastmilk, or while the fetus is in utero with the transfer of antibodies from the mother through the placenta.
If your mom died leaving a mortgage how can you transfer the mortgage over into your name?
I am so sorry your mother passed away. If you are executor (male) executrix (female) or heir in the Will, then it will go into Probate. Probate makes sure all debts are paid for before the heirs (such as yourself) receives the balance of the Estate. You must contact a lawyer to do this and they will be sure that all debts, mortgages, etc., are paid off and the Probate is finalized. If the mortgage is more than the monies left in your mother's Estate you still have to go through Probate so all bills are paid off, get the total amount your mother owes (hopefully you will get some money) but should her debts be more than what your mother had left in total, then you will have to go to the banking institution after Probate and take a mortgage out on that property. Be sure you have been left in the Will. If your mother has divided the Will between siblings or any other persons then I am afraid you will have to discuss the fact you want to buy the house. EXAMPLE: If the house was bought at $200,000 and your mother has a mortgage left of $60,000, and she owes taxes and other debts then unless she has other stocks/bonds/savings accounts, etc., to pay these bills off, the house will have to be sold to pay off these debts. This is when you could go into your banking insitution and ask to take over the mortgage on the house (providing the other heirs are in agreement) which I am sure they will be. Good luck Marcy
Is a property inspection required when a mortgage note is passed sold to another lender?
No.No.No.No.
If my mother is the one who passed is it mother or me the daughter?
to be honest i’m sure but i think it’s mother
Is baldness passed from your mother or father?
The gene for baldness is inherited from the mother .
Are foreclosure sales by Master in Equity in South Carolina subject to the prior Owners mortgage debts and other liabilities being passed on to the auction Buyer or do these old debts get cancelled?
Foreclosure sales in SC are subject to taxes, assessments, existing easements/restrictions of record, and any senior encumbrances. Basically, the mortgage being foreclosed on "goes away" and you are provided with a title to the property that is not warrantied to be free and clear.
Your mom passed away 6 mos ago how can you find out if there was an death clause on her home the amount that is left is 8000.00?
You can read the recorded mortgage document at the land records office. The staff could help you to locate the recorded mortgage under your mother's name. You would be looking for a "due on death" clause that requires the mortgage be paid in full upon the death of the mortgagor. Generally, there is also a clause that requires the mortgage to be paid in full if there is any change in ownership which would include the change caused by the death of the mortgagor. You could just keep making the payments. That would work out the best if you had a joint checking account with your mother. You could keep making the mortgage payments by using that account. Keep in mind that if the property was solely in your mother's name then the estate must be probated for title to pass to the heirs. In that case notice of your mother's death must be published and the bank may discover that your mother has died and demand payment. If that happens perhaps you could negotiate a refinance of the balance due.
