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mzclean · Joined: 02 Feb 2009 Posts: 1 1.45 Dollars($)

Do I have to change the mortgage into my name since my husband passed away?..I live in Maine and my husband passed away in June 2007. Although we were joint tenants, the mortgage is in his name only. I did not notify the mortgage company but contined to make payments. The house has been on the market since October 2007, but due to the market, it has not sold. Now I must lower the price and I will owe more than the house is worth between the mortgage and a home equity line of credit(which does have my name on it). I also am now having a problem meeting the mortgage (only) payments. What is the best course of action for me. If I speak to my mortgage co. can they force me to put it into my name? Am I less responsible if the mortgage remains in my late husband's name and the house goes into foreclosure? I don't know what to do.

helping_user · Posted: Tue Feb 03, 2009 12:11 am Post subject:

Welcome mzclean.

It's sad to hear to hear about your husband's death. May his soul rest in peace.

I think you need to change the name on the mortgage. What you can do is, have a talk with the lender and show him the death certificate of your husband.

Your responsibility for the mortgage will be less no doubt as it is in your husband's name. But the fact remains that you have your name on the title. So, if you'd like to keep the home, you'll have to pay the mortgage in full.

You need to talk to the mortgage company and see if the can arrange for an alternative payment plan with you.

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What do I need to change the name in my mortgage

riseabove · Joined: 09 Nov 2009 Posts: 277 11.01 Dollars($)

Generally if you want to change the name of the mortgage holders you need to refinance the loan. If you are adding or removing someone then the lender needs to know this as it affects who they can persue in the event of default and what the debt servicing ability of the mortgage holders is like.

rita2 · Joined: 23 Apr 2010 Posts: 286 51.03 Dollars($)

Hi,

You have not mentioned clearly whether you want to remove your name from the mortgage or someone else. However, if you want to make any change in the mortgage deed ( remove/add any name ) you need to refinance the loan. If you want to remove your name from the deed then you need to convince the other person to refinance the loan. The best thing would be to consult with a lawyer and the lender.

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