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VA loan after my death

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lockwood

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0.10 Dollars($)

PostPosted: Thu Mar 30, 2006 2:17 pm    Post subject: VA loan after my death

I am on a VA loan. What will happen if I die before the loan is paid off?
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Icon Mini Profile jameshogg
jameshogg


Joined: 20 Dec 2005

Posts: 1435
Location: nevada


197.34 Dollars($)

PostPosted: Thu Mar 30, 2006 2:20 pm    Post subject:

Hi Lockwood,

After your death your spouse or any other co-borrower has to continue the payments. In the absence of any co-borrower the loan becomes the obligation of the veteran's estate.
 
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lockwood

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0.10 Dollars($)

PostPosted: Thu Mar 30, 2006 2:26 pm    Post subject:

Is there any mortgage life insurance available?
 
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Icon Mini Profile jameshogg
jameshogg


Joined: 20 Dec 2005

Posts: 1435
Location: nevada


197.34 Dollars($)

PostPosted: Thu Mar 30, 2006 2:28 pm    Post subject:

Yes, it is available but you need to purchase from private insurance sources.
 
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