Posted on: 03rd Apr, 2013 01:03 am
My mortgage was under my father’s name, he passed away so after probate it’s now with my Mother? My Mother said she would like to just wipe out our mortgage so we owe nothing. My father bought the property for us outright, no lending from banks, now he has past and after probate it will be with my mother and she said she wants nothing from us. Can this be done?
hi guest,
i'm confused at what you're saying. once you say that the mortgage is under your father's name and then you say that your father owned the property outright! if there is a mortgage on the property, then that needs to be paid off. anyone of you will have to refinance it and pay off the dues as per the payment plan.
take care.
i'm confused at what you're saying. once you say that the mortgage is under your father's name and then you say that your father owned the property outright! if there is a mortgage on the property, then that needs to be paid off. anyone of you will have to refinance it and pay off the dues as per the payment plan.
take care.
hi guest!
welcome to the forums!
yes, the mortgage won't vanish off. either the lender will sell off the property to recover the debt or someone else will have to refinance and pay off the loan.
feel free to ask if you've further queries.
sussane
welcome to the forums!
yes, the mortgage won't vanish off. either the lender will sell off the property to recover the debt or someone else will have to refinance and pay off the loan.
feel free to ask if you've further queries.
sussane
No, the Probate process didn't change the mortgage Note, your Father is still on the Note. Probate will put Title of the property into your Mother's name, but not the mortgage.
