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Mortgage co-signer passes away

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38671 Joined: 07 Dec 2009 Posts: 1 1.29 Dollars($)	Posted: Mon Dec 07, 2009 11:06 am    Post subject: Mortgage co-signer passes away Like 0 Dislike 0 I had to have my elderly father-in-law co-sign a mortgage with me back in 2006. What happens when he passes away? Will we need to re-finance? What if we still don't qualify?
brian1 Community Expert Joined: 14 Jun 2008 Posts: 448 Location: Northern California 15.61 Dollars($)	Posted: Mon Dec 07, 2009 12:53 pm    Post subject: Like 0 Dislike 0 you keep paying and it will not be a problem - they cannot call a note due because of death they can for non payment _________________ Licensed Broker 50 states http://www.aimwithfocus.com Live Chat available Need quick advise email or PM Glad to help Pre-approvals www.applyonlinesecure.com
Rob Wells Guest	Posted: Mon Dec 07, 2009 1:24 pm    Post subject: Co-signer passes away Like 0 Dislike 0 What happens when/if we decided to sell?
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Wed Dec 09, 2009 4:01 am    Post subject: Like 0 Dislike 0 Hi Rob, If the co-signer on your mortgage passes away, you will become solely responsible for the repayment of the mortgage. If you decide to sell the house, you will have to pay off the mortgage in full from the proceeds of the sale.

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