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May 1, 2024
6:47
:21
am
ToasterChive
All-American
As long as payments keep being made the bank will not typically care
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ToasterChive
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Chicarl
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ToasterChive
Joined
Sep 3, 2010
Last login
May 15, 2024
Total posts
22,081 (418 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
ToasterChive
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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