What will happen to the mortgage on my deceased mother's estate?
Question Details: I am the personal representative of my mother's estate. I am also the sole beneficiary. My mom had a mortgage in her name and the deed to her house was in her name. To close her estate, l must transfer the deed to my name. Her name will remain on the mortgage, which l still pay each month. If I can longer pay the mortgage, will l be responsible for the mortgage or will they just take the house?
Actually, the mortgage came due in full (i.e. the full remaining balance is due) when your mother died, so you legally *can't* simply keep paying the mortgage: you are not her, and a deceased person cannot have a mortgage. Also, you cannot transfer the deed to your name without paying off the mortgage. So what you need to do is--if the house is worth this (i.e. is not "underwater" in value) is to either pay off the mortgage for case or refinance it in your name.
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