In an estate, who is responsible for paying the balance on a consumer loan?

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In an estate, who is responsible for paying the balance on a consumer loan?

adonis

Posted on: 06th Feb, 2009 07:27 am

In an estate, who is responsible for paying the balance on a consumer loan?...Loan taken out with home as collateral. Both borrowers passed away. Home was willed to child. Who is responsible for balance on loan? The estate?

Total Reply : 1

Welcome ajdj,

Yes, as far as I know, the estate will be responsible for paying off the mortgage dues.

adonis

Posted on: 12th Feb, 2009 11:18 pm

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