Posted on: 25th Mar, 2011 05:25 pm
Hi, if onlt one spouse is on the mortgage and both on the deed and the one off the mortgage passes, is another responcible for the mortgage left behind?
hi zoyaklain!
welcome to forums!
if the person wants to save the property, then he or she can refinance the mortgage into his/her name and pay off the mortgage dues on time. if the lender does not receive his dues on time, then he will foreclose the property to recover the dues.
feel free to ask if you've further queries.
sussane
welcome to forums!
if the person wants to save the property, then he or she can refinance the mortgage into his/her name and pay off the mortgage dues on time. if the lender does not receive his dues on time, then he will foreclose the property to recover the dues.
feel free to ask if you've further queries.
sussane
Hi zoyaklain,
Welcome to mortgage fit,
Another consideration is that if there is any sort of insurance of the mortgage on the name of the person who is on the mortgage...then the liability to pay the remaining amount to the lender goes to the insurance company...you must check this out before taking any step in this regard...
Feel free to ask any further query if you have.....
DIPA
Welcome to mortgage fit,
Another consideration is that if there is any sort of insurance of the mortgage on the name of the person who is on the mortgage...then the liability to pay the remaining amount to the lender goes to the insurance company...you must check this out before taking any step in this regard...
Feel free to ask any further query if you have.....
DIPA