What do you think will happen to the mortgage? The owner is gone. If title to the house passed to the brother and sister, they have to make the payments (I guess that is not directly "assuming" the mortgage ... but they are now responsible for payments). If instead the estate is left the house, rather than passing directly to heirs, the estate has to make payments. Somebody has to make payments, or the bank will foreclose. The wording of the original post implies to me that the brother and sister now own the house outside the estate (this is a detail that matters.....).Not relevant. OP doesn't need to "assume" the mortgage (although the banks may try to get them to) nor do they have to owner occupy the property.
One of the side issues mentioned, I'd think that even if the bank lets the new owner(s) assume the mortgage, they would want the house to be fully occupied.
Actually, you are probably right that the mortgage holder won't care that much about the house occupancy. The insurance company might want vacant house coverage added.
Statistics: Posted by TN_Boy — Sun Jul 28, 2024 2:32 pm — Replies 50 — Views 3276