What happens when there are co-borrowers on a loan (husband and wife) and one dies. The Deed is listed as Tenants of Entirety and they were both listed on the loan.
Can the mortgage company go after payment from the deceased's estate, or does the loan become the responsibility of the surviving spouse, who was also a co-borrower and who is now listed as sole owner on the deed.
For example, can the mortgage be listed as debt when figuring out debt to be paid by the Estate of the deceased, or does the surviving spouse have to default on payment for that to happen?
Any help would be greatly appreciated.