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

Sign up, and you'll be able to customize your font size and more! Sign up

Report problem with this ad

May 1, 2024
6:42:59am

VACOUGFAN All-American

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

Usually you have 6 ish months I believe.

Report problem with this ad

VACOUGFAN

Bio page: VACOUGFAN
Joined: Sep 5, 2001
Last login: Jun 5, 2024
Total posts: 62,201 (19,461 FO)

Report problem with this ad

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

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad