mortgage law

danocoats · Joined: 28 Sep 2008 Posts: 1 1.34 Dollars($)

In the state of florida a women took out a loan on a house, the house is paid for. The women then takes her name off the deed and put her daughter name on it, the woman then dies what happens to the mortgage?

smithsussane · Posted: Sun Sep 28, 2008 7:50 pm Post subject:

Hi danocoats!

Welcome to forums!

As the daughter now owns the property, the lender will ask her to pay the mortgage. The daughter can go for refinancing and transfer the mortgage in her name.

Feel free to ask if you have further queries.

Sussane

jerry · Posted: Mon Sep 29, 2008 3:59 am Post subject:

Hi danocoats!

If the deed has the daughter's name, then, the lender will ask her to clear off the debts.

Thanks,

Jerry

ckalvesmaki · Posted: Mon Sep 29, 2008 4:49 am Post subject:

if the mortgage is paid off then there isn't a mortgage left on the house and the deed is in the daughters name so the daughter owns the house.

gmakerley · Posted: Mon Sep 29, 2008 11:24 am Post subject:

thank you cedric - i read the first two responses and i was fearful that nobody recognized that the mortgage didn't exist any longer.

i just realized the similarity in our companies' names - i hope the next guy looking for freedom mortgage texas doesn't call me and vice versa for the next guy looking for freedom mortgage corporation. if it happens, one of us will owe the other.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.03 Dollars($)

There is no mortgage so I don't understand why the question was asked. Unless it was meant to be a trick question to see how many people would catch it.

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