Compare Mortgage Quotes

Guest

My husband and I hold joint title to our home with his mother. She has 50% interest and my husband and I the other half. We have a mortgage on the house. She has some home equity loans. If she were to pass away would we be responsible for paying these mortgage loans of hers?

sara · Posted: Wed Nov 11, 2009 2:39 am Post subject:

Hi jalyn,

The property has been used a as collateral to get the equity loans. Though your mother is the borrower, the lien is on the property. Thus, you will have to refinance the loan in your name and then pay it off. If you do not pay off the dues, the lender may foreclose the property.

Take care

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1