QUESTION
Would the family of a decased person be responsible for the payments of a second mortgage on a home?
Asked on Feb 03rd, 2014 on Residential Real Estate - New Jersey
More details to this question:
The second mortgage is under the deceased person; whos marital status was separated. Would the separated widow be responsible for the monthly payments. Taxes were filed separately for the past 6-8 years.
1 ANSWER
2 Awards
The mortgage really goes with the property, not the person. Responsibility for the mortgage will go with who is going to own the property after the deceased person's death. If the widow is going to inherit the property, and wants to continue living in it, then she needs to pay the mortgage.
Answered on Feb 05th, 2014 at 5:07 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship