Posted on: 11th Dec, 2010 03:24 pm
I bought my grandmother's house in 1984, she died in 1987, but the mortgage has remained in full force and effect except we have continued making payments to my Father since as he was the heir to her estate. My father recently died. The only modification to the original agreement was a change from 10% to 7% interest, signed by my father, as executor to my grandmother’s estate. Is the mortgage subject to my father's or my grandmothers will?
hi,
if mortgage still remaining on the house, you have 3 ways to get out from this situation. lender will barely leaves anything for heirs. pay off whole remaining amount & reclaim your house. second option is sell off the house & pay off remaining mortgage amount & last one option is refinance the mortgage by some other package, which allows repayment. you have to negotiate with your lender about that.
that means, renaming mortgage amount will effect will leaved by your grandmother.
thanks & regards.
gunz.ijjistaff :lol: :lol: :lol:
if mortgage still remaining on the house, you have 3 ways to get out from this situation. lender will barely leaves anything for heirs. pay off whole remaining amount & reclaim your house. second option is sell off the house & pay off remaining mortgage amount & last one option is refinance the mortgage by some other package, which allows repayment. you have to negotiate with your lender about that.
that means, renaming mortgage amount will effect will leaved by your grandmother.
thanks & regards.
gunz.ijjistaff :lol: :lol: :lol: