Family plans to continue making the payments. Very small mortgage.

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May 1, 2024
7:29:04am

Iman23 All-American

Family plans to continue making the payments. Very small mortgage.

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Iman23

Bio page: Iman23
Joined: Jan 18, 2008
Last login: Jun 17, 2024
Total posts: 42,966 (2,777 FO)

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Messages

Author

Time

When someone has a mortgage and then they die, does the bank immediately call

Iman23

May 1, 6:34am

Depends on the state but this is where probate is typically involved.

VACOUGFAN

May 1, 6:42am

As long as payments keep being made the bank will not typically care

May 1, 6:47am

Depends on state law. In Missouri there is a 6 month moratorium after death

BYUMizzou

May 1, 6:47am

My understanding is that if a spouse is the transferee then a federal law prohib

mkg

May 1, 7:00am

Right, but I'm talking about what happens after the wife dies.

Iman23

May 1, 7:03am

Same thing. A transfer on death to a relative can’t trigger a due on

mkg

May 1, 7:05am

Also, this is in Utah, if that matters as far as state law...

Iman23

May 1, 7:04am

The big question is whether or not the family is going to continue to make the

BYUMizzou

May 1, 7:17am

Family plans to continue making the payments. Very small mortgage.

Iman23

May 1, 7:29am

Under federal regs, the estate or an heir can step into the shoes of the deceased as successor.

ConnCoug

May 1, 8:30am

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