Posted by DellaCa on 7/25/06 1:00pm
Msg #135181

non-borrowing spouse , what happens

if the borrower dies and the spouse is not on the loan. Would the lender take property or would living spouse take over payments. Just curious anyone know the answer?

Reply by Regal/NC on 7/25/06 1:03pm
Msg #135183

If you were the lender what would you do? Let the remaining spouse have the property free of charge, I think not. I would lean towards"Common Sense" which dictates be prepared to payup. JMHO!

Reply by DellaCa on 7/25/06 1:07pm
Msg #135185

Re:Maybe I worded the question wrong

I know it would have to be payed I meant would the living spouse have the chance to make the payments as on the loan terms or would they have to get their own finiancing?

Reply by BrendaTx on 7/25/06 1:17pm
Msg #135187

Re: Re:Maybe I worded the question wrong

Della - they do not care who pays the mortgage as long as it is paid, in my experience. However, the one doing the paying needs to decide if it is in THEIR best interest to maintain the mortgage on the property given the beneficiaries of the spouse's estate.

Back to work...wow...that's so good to hear myself saying here for a change! However, one month does not a business make...we'll have to see what next month brings.

Reply by Signing_Doc on 7/25/06 1:18pm
Msg #135189

and jealousy rears it's ugly head...wish I could say bktowk n/m

Reply by DellaCa on 7/25/06 1:48pm
Msg #135192

Re: Ty Brenda n/m