Posted on: 02nd Feb, 2011 06:55 pm
My husband died last yr. The mortgage loan was in his name only. My name is on the title. I am afraid to notify the bank that he is deceased. I make the loan payments on time but none of these payments shows on my credit score. Fearful that the bank will make me apply for the mortgage in my name. I wouldn't qualify.
hi pinkshulaces!
welcome to forums!
as your name is not mentioned on the mortgage docs, though you make the payments, it won't get reported to your credit record. as your name is not mentioned on the loan docs, you're not personally liable for the payments. however, if you want to save the property, it'll be better to refinance the mortgage in your name and pay off the loan in full.
feel free to ask if you've further queries.
sussane
welcome to forums!
as your name is not mentioned on the mortgage docs, though you make the payments, it won't get reported to your credit record. as your name is not mentioned on the loan docs, you're not personally liable for the payments. however, if you want to save the property, it'll be better to refinance the mortgage in your name and pay off the loan in full.
feel free to ask if you've further queries.
sussane