Posted on: 15th Oct, 2012 01:34 pm
My father died a month ago. My mother has alztheimers disease. I live with her in the home. My father named me as executor of the estate in his will. I also have power of attorney over my mother.She is also on the mortage loan. She has no will. What can I do to assume the mortage with my mom, or is it possible?
Hi Sharon!
Welcome to forums!
You need to probate your father's will and get the property transferred in your name. Then you can contact the lender and try to assume the loan. It will be the lender's discretion as to whether or not he will let you assume the loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You need to probate your father's will and get the property transferred in your name. Then you can contact the lender and try to assume the loan. It will be the lender's discretion as to whether or not he will let you assume the loan.
Feel free to ask if you've further queries.
Sussane
Hi Sharon,
You will have to contact the lender and apply for loan assumption. If your loan docs allow you the assumption option, then the lender will be ready to offer that provided you meet all the required criteria.
Thanks
You will have to contact the lender and apply for loan assumption. If your loan docs allow you the assumption option, then the lender will be ready to offer that provided you meet all the required criteria.
Thanks