Posted on: 09th Mar, 2009 01:31 pm
I am the beneficiary of a home with a mortgage in my ex-husband's will. When he passes away, how do I get the house in my name without refinancing? How do I transfer the mortgage insurance in my name? He has terminal cancer and really wants me and our son to move into his home so that we will be in a better neighborhood.
Hi...I'm no expert...but have you considered this (I know it's a wild idea)....remarry him? As his wife you would get his social security benefits when he passed on, and it might not be as big a deal to the bank then as long as you can afford the payments....just an idea. I don't know your personal situation and it may not work on several points...but it came to mind as possibly a good idea.....I wish you all well and hope it works out
Hi, would remarrying him help? You would get shis ocial security benefits when he died and that would help you pay for the house....bank may not mind if you're legally the wife again and make it an easy transition for you to take over payments
oops, sorry, didn't see someone already wrote that
hi tammyw,
since you are the beneficiary of the property, you will get the title in your name. as far as the mortgage is concerned, if you are reluctant to refinance, you can consider the option of a novation agreement. to change the name on the mortgage insurance, you need to submit a copy of the death certificate with the insurance company.
since you are the beneficiary of the property, you will get the title in your name. as far as the mortgage is concerned, if you are reluctant to refinance, you can consider the option of a novation agreement. to change the name on the mortgage insurance, you need to submit a copy of the death certificate with the insurance company.