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removing a deceased dad from mortgage

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maryska6 Joined: 10 May 2011 Posts: 1 1.43 Dollars($)	Posted: Tue May 10, 2011 12:08 pm    Post subject: removing a deceased dad from mortgage Like 0 Dislike 0 Please bear with me while i explain the situation. In 2005 my parents together with brother bought a new house. In 2007 my dad's healthe started to deteriorate and the decided to remove his name from title by quit claim deed leaving my brother and mother as the owners. Unfortunatelly he passed away in 2009. While trying to apply for a loan on the car my brother found out he is not on the mortgage and has no credit ( although each month his name appears on the statement) he is only a contact person... What r their options in removing my dad from the mortgage (My brother has been paying mortgage from the beginning). I have heard that if the bank finds out they might make them do a payoff of the loan is this true please help....
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue May 10, 2011 10:37 pm    Post subject: Like 0 Dislike 0 Hi maryska, To remove your father from the loan, your brother will have to assume the mortgage or refinance it. But in both the cases, you should have a good income and credit score. Thanks

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