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I am looking for assistance regarding a loan assumption requested by a mortgage servicing company.
My aunt, who lives in Florida, is a co-borrower on a loan. She signed the loan agreement with her husband who is now deceased. She has been struggling to pay her mortgage for the past two years and is now 5-6 months behind on payments.
The mortgage servicing company is requiring that she assume the loan before they can offer a loan modification. While the loan modification is not a guarantee, she does not understand why she must assume the loan if she is a co-borrower.
The servicing company sent her a Beneficiary Statement that identifies her deceased husband as the borrower. My aunt is concerned that she not listed as a coborrower on the Beneficiary Statement. She is afraid to sign the loan assumption paperwork at this point and doesn’t understand why a death certificate would not be sufficient.

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