Скачать или смотреть What Happens When A Family Member Passes Away And Has A Mortgage On Their Home ?

When a loved one passes away and leaves a mortgage on their home, it can be overwhelming to figure out what to do next. Does the bank take the property back? Are you required to sell it? In this video, I’ll explain exactly what happens to the mortgage and the steps you can take to handle it with confidence.

Whether you’re an heir, an executor, or just planning ahead, understanding these steps can save you time, stress, and money. We’ll go over the importance of setting up a trust to avoid probate, what to do if there’s a reverse mortgage, and how to become a “Successor in Interest” to manage the loan.

Key Steps Covered in This Video:
Setting Up a Trust

Avoid costly and lengthy probate by setting up a trust. This simple step can save thousands in fees and months of waiting.
Handling Different Mortgage Types

Reverse Mortgage: Typically gives heirs up to 12 months to sell the property or 6 months to refinance.
Standard Mortgage: You can usually continue making payments without the bank requiring immediate repayment.
Becoming a Successor in Interest

Notify the mortgage company and request to be added as the Successor in Interest. This grants you access to the mortgage details and the option to modify the loan if needed.
These tips are crucial for anyone handling a mortgage after a loved one’s passing, helping you keep your loved one’s home without losing time or money.

💬 Have questions or need guidance? Drop them in the comments, or reach out directly—my contact info is in the caption below. Don’t forget to hit that subscribe button for more real estate advice that’s real and relevant to you.


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