QUESTION

Do you have to continue paying the mortgage if a parent passes away?

Asked on Nov 07th, 2011 on Estate Planning - California
More details to this question:
My dad died without a will. He was paying mortgage. Do I continue payments?
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6 ANSWERS

If the payments don't get made, the lender will foreclose. There are many questions embedded in this one; you probably should start to administer your father's estate; however, there may only be liability, and no benefit to doing it. If there's a house, then potentially there's a lot of money on the table.
Answered on Nov 08th, 2011 at 11:12 PM

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Glen Edward Ashman
Maybe, maybe not depending on facts you need to discuss with a lawyer (and yes, get one ASAP).
Answered on Nov 08th, 2011 at 10:39 PM

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Donald B. Lawrence
Unless you signed the mortgage note, you are not liable. If you believe that the value of the property exceeds the mortgage and you are the sole heir that will inherit the property, you may want to work with the mortgage company to delay the foreclosure action that will ensue if payments are not made. If you have siblings that would also inherit the property, you will want to have a written agreement with the others as to being repaid for any funds you put up to forestall the mortgage foreclosure. Otherwise, the mortgage will likely be pushed into foreclosure when the payments fall 90 days overdue.
Answered on Nov 08th, 2011 at 5:53 PM

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You have no legal obligation to make payments on your dad's mortgage. If you don't the bank will foreclose on the house. If the house is worth more than the mortgage (or if you are living there and the mortgage payment is less than rent you would pay for an equivalent rental), make the payments. If not, don't.
Answered on Nov 08th, 2011 at 1:48 PM

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Probate Attorney serving Las Vegas, NV
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In part it depends upon how the home is titled, if you want to keep the home, whether he was married at the time of death, and how many sibling you have. You really should speak with an attorney about probate and your options.
Answered on Nov 08th, 2011 at 1:29 PM

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Trusts & Estates Attorney serving Camarillo, CA at Law Offices of Larry Webb
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The mortgage follows the property, so if you inherit you will have to pay the mortgage.
Answered on Nov 08th, 2011 at 1:29 PM

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