If spouse dies is the other spouse still responsible for the mortgage payments?

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Icon Mini Profile hufnnc

Joined: 17 Dec 2008

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Post Posted: Wed Dec 17, 2008 2:46 pm    Post subject: If spouse dies is the other spouse still responsible for the

Our mortgage is solely in my name and right now because of the housing meltdown, I owe more than the house is worth. If I died would my wife be legally responsible for the remaining balance on the mortgage? Or could she just walk away from it.
Icon Mini Profile evolovik26
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Post Posted: Wed Dec 17, 2008 7:17 pm    Post subject:

If both of them are on the mortgage then both spouses are equally responsible
but you can always contact the lender to see if there is a way to modify the mortgage due to something like this

Eugene Volovik
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Icon Mini Profile jameshogg

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Post Posted: Wed Dec 17, 2008 8:33 pm    Post subject:

Hi hufnnc,

You have mentioned that the mortgage is in your name. In that case, your wife will not be liable to pay the mortgage after your death. However, the lender may ask her to refinance the mortgage in her name. I think you should contact the lender as Eugene Volovik has said and check out the options available with him.

jean johnson


Post Posted: Mon Apr 19, 2010 4:06 pm    Post subject: sister dies

my sister and I own mortage together--what if one of us dies? what happens to mortgage?
Icon Mini Profile jenkin7

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Post Posted: Tue Apr 20, 2010 1:07 am    Post subject:

Hi jean,

If one of you dies, the other can just keep making the payments to retain the house. As long as you keep making the payments on time, the lender will not want to foreclose your home.
Icon Mini Profile riseabove

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Post Posted: Wed Apr 21, 2010 8:16 pm    Post subject:

I'm affraid that lenders can be pretty unsymathetic in situations like this. In essence you both took on the obligation to pay the loan off and thats going to get enforced.

Not to sound crass, but this is a good reason why people get life insurance.

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