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jvaughn · Joined: 04 Oct 2009 Posts: 1 1.32 Dollars($)

She died 9 months after major stoke. Our finances are depleted with much debt however I can make the payments. I understand that with the title we have the other creditors can't come after the house. Is that correct? In other words can I simply hold onto the house without qualifying for a mortgage if I can make the payments? I understand I legally have to notify the lender and don't want to do anything illegal.Thanks

jenkin7 · Posted: Sun Oct 04, 2009 11:23 pm Post subject:

Hi jvaughn,

Since you are on the title to the house, you have a legal right to the property. But as the mortgage is in your deceased wife's name, the lender would probably ask you to refinance the loan. However, you can request them to let you assume the mortgage. It is up to them whether they will let you do that or will ask you to refinance. But as long as you are current on your payments, you do not have any fear of losing the house. The lender will not be bothered about the fact whether or not you are on the loan. They will be pretty satisfied so long as they receive the payments on time.

gmakerley · Posted: Mon Oct 05, 2009 8:28 am Post subject:

jvaughn, it seems there are other creditors who are, perhaps, lurking around after debts that belonged to your wife. is that right?

i'd suggest you check with an estate attorney to decipher just what rights these creditors may have.

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My wife died. I am on the title, fee simple, but not the mortgage. I am easily able to make the payments but would not qualify for a mortgage. Will the mortgage company allow me to assume the loan without qualifying?