Submitted by Anonymous on Fri, 03/07/2014 - 09:46
How to refinance deceased parents mortgage
How to refinance deceased parents mortgage
Parents property is mortgaged out more then its worth. Family members have been paying mortgage payments in order to keep the property. But can ot take credit for tax breaks.
2 Answers
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You need to get the title into their name - not sure that the mortgage will be easy to refi if they are underwater - I would check with a tax person to see how to structure the write offs - there should be a way to make it work
Brian Barnes
ENG Lending
Nationwide Lender
1
Are they underwater on the mortgage? If yes, then you might face difficulties in refinancing the mortgage loan. Get in touch with a tax advisor as he will probably be the best person to take care of this issue.