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Can You Put a House in a Trust With a Mortgage?
It is possible to put a house in a trust with a mortgage, but it's important to understand the implications of doing so.
If you want to keep using your house as collateral for a mortgage, you will need to get permission from both the lender and the trustees. The lender will want to be sure that you are still able to make your payments if something happens to you, and that they will be able to take possession of the property if you stop making payments.
It's important to talk to an attorney before putting your house in a trust, to make sure that you understand all of the implications and that the trust is set up correctly.
Published: Oct 14, 2022
Updated: Jul 12, 2023
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