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consolidate home loans after death

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stephanie

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Post Posted: Thu Feb 24, 2011 5:41 pm    Post subject: consolidate home loans after death
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My mom past away in december and my son is the executor of the estate. My mom left us with 3 loans and we need to get the house payment lower and somehow get the 2 small loans combined or paid off. We really need want to keep the house. Please help! We are running out of time.
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adonis




Joined: 22 Oct 2005



Posts: 10574
Location: ALASKA
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Post Posted: Sun Feb 27, 2011 10:29 pm    Post subject:
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Hi stephanie,

You should get the property transferred in your name. After you do so, then you can refinance the mortgage in order to combine the 3 loans. However, you'll be able to refinance the mortgage only if you've equity in your property.

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