Posted on: 28th Apr, 2011 05:39 pm
my father left his children a carwash that has 350000 dallors left owed on it. he was killed in a car accident. the monthly payments are 6000 dallors with 5 years left owed on it. we can't afford to make that kind of payment. is it possible to refinance it in my dads name even though he passed away? we are young and have no credit. what do u recommend?
Hi ash!
Welcome to forums!
As your father has passed away, you won't be able to refinance the loan in his name. If you wish to refinance it, then it has to be in your names. But as you don't have credit, none of the lenders will be ready to give you a mortgage refinance.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As your father has passed away, you won't be able to refinance the loan in his name. If you wish to refinance it, then it has to be in your names. But as you don't have credit, none of the lenders will be ready to give you a mortgage refinance.
Feel free to ask if you've further queries.
Sussane
Did you father leave a will? Who is running the business? Why dont you run the business and make the payments?
