If you're wondering whether a mortgage can stay in a deceased person's name, the answer is yes, but some conditions are attached. They are:
The mortgage must be paid before the deceased person's heirs can inherit the property.
If the mortgage is not paid off, the lender has the right to foreclose on the property.
If you're the heir of a deceased person who still has a mortgage on their property, you'll need to take action to either pay any mortgage payments while arrangements are being made to sell or pay off the property.
Published: Oct 9, 2022
Updated: Nov 15, 2022
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