Posted on: 01st Dec, 2008 09:03 am
my mother recently passed away without a will. hers was the only name on the deed to her home which still has a mortgage. if i file an affidavit of heirship do i have to refinance the loan or can i continue to pay the amount that she was paying?
hi tlms!
welcome to forums!
as far as i know, if the property ownership changes, the lenders ask for refinancing the mortgage. once you file an affidavit of heirship, the lender will ask you to refinance the property. however, you can speak to the lender and check if he agrees to novation. novation is a process of transferring the mortgage. to know more about novation, check out the following link:
http://www.mortgagefit.com/discuss/about2085.html#7128
feel free to ask if you have further queries.
sussane
welcome to forums!
as far as i know, if the property ownership changes, the lenders ask for refinancing the mortgage. once you file an affidavit of heirship, the lender will ask you to refinance the property. however, you can speak to the lender and check if he agrees to novation. novation is a process of transferring the mortgage. to know more about novation, check out the following link:
http://www.mortgagefit.com/discuss/about2085.html#7128
feel free to ask if you have further queries.
sussane
In order to take possesion (place heirs names on title) of real estate will I have to file a petition with the court prior to placing names on the deed.
Hi Dean,
If there is a will, it should be probated first. Once the will is probated, it should be recorded at the county recorder's office which will help in transferring the property in the county recorder's office.
As far as I know, you will not have to file a petition with the court prior to placing the names on the deed.
Thanks
If there is a will, it should be probated first. Once the will is probated, it should be recorded at the county recorder's office which will help in transferring the property in the county recorder's office.
As far as I know, you will not have to file a petition with the court prior to placing the names on the deed.
Thanks
WHICH DO I FILE FIRST, AN AFFIDAVIT OF HEIRSHIP OR A GENERAL WARRANTY DEED?
Hi Sandra,
If the deceased person has not left any will, then you need to transfer the property first in your name with the help of an affidavit of heirship. Once the property is transferred in your name, then you can file a warranty deed and transfer the property to someone else.
Thanks
If the deceased person has not left any will, then you need to transfer the property first in your name with the help of an affidavit of heirship. Once the property is transferred in your name, then you can file a warranty deed and transfer the property to someone else.
Thanks