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If spouse dies is the other spouse still responsible for the mortgage payments?

Posted on: 17th Dec, 2008 01:46 pm
Our mortgage is solely in my name and right now because of the housing meltdown, I owe more than the house is worth. If I died would my wife be legally responsible for the remaining balance on the mortgage? Or could she just walk away from it.
If both of them are on the mortgage then both spouses are equally responsible
but you can always contact the lender to see if there is a way to modify the mortgage due to something like this
Posted on: 17th Dec, 2008 06:17 pm
hi hufnnc,

you have mentioned that the mortgage is in your name. in that case, your wife will not be liable to pay the mortgage after your death. however, the lender may ask her to refinance the mortgage in her name. i think you should contact the lender as eugene volovik has said and check out the options available with him.

thanks
Posted on: 17th Dec, 2008 07:33 pm
my sister and I own mortage together--what if one of us dies? what happens to mortgage?
Posted on: 19th Apr, 2010 04:06 pm
Hi jean,

If one of you dies, the other can just keep making the payments to retain the house. As long as you keep making the payments on time, the lender will not want to foreclose your home.
Posted on: 20th Apr, 2010 01:07 am
I'm affraid that lenders can be pretty unsymathetic in situations like this. In essence you both took on the obligation to pay the loan off and thats going to get enforced.

Not to sound crass, but this is a good reason why people get life insurance.
Posted on: 21st Apr, 2010 08:16 pm
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