Posted on: 30th Jan, 2008 05:31 am
one of my friend wants to refinance his home but the property and mortgage is in his wife's name who passed away some two years back. now he is making mortgage payments but still the title is in her name. he has got her death certificate but no will from his wife. what are the procedures should he follow to refinance his home?
Its not that complicated.....If he is on title..........she will ned to be removed and the title company will need a certified copy of the death certificate.....Any decent broker or lender should be able to get this handled.
from my reading of the original post, it seems that the prospective borrower is not an owner of the property.
my first thought on the topic - has the deceased wife's estate been probated? if so, that ought to clarify things once and for all.
my first thought on the topic - has the deceased wife's estate been probated? if so, that ought to clarify things once and for all.
That may be the case......and if it is.......then the home would have to clear probate......
Yeah, simply call the current lender -- they want the note to be in his name, believe me. Let them refinance him -- let them handle the title adjustments. Otherwise, simply get the ball rolling with another lender/broker -- just do it, as there is nothing really complicated here. Good Luck to him!
Even if he is on title and has a death certificate, it does not mean that the title company will just remove her from title without it going through probate. If the estate has gone through probate and he is granted 100% ownership then she will be removed. But no respectable title company will just remove someone from title without it going through probate unless it was a surviorship deed. If it is a surviorship deed, then he can just proceed and the title company will take her off the title.
