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my husband died, my name is not on the mortgage loan, but is on the deed, what can I do now

by irisandme1947959 from Hudson, Florida. Mar 14th 2018 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Really, there's nothing to do.. In 1982 Congress passed the Garn-St. Germain Depository Institutions Regulation Act. This makes it illegal for lenders to call the note due and payable for properties inherited... So, you have the best of both worlds.. you have a mortgage you didn't have to qualify for, and you have all the ownership rights by being on title.. Some lenders will try to convince (or scare) you into refinancing.. And although there might be a benefit to refinancing, (lower payment, lower interest rate, removing mortgage insurance, etc..) It's not necessary if you feel that leaving the existing loan in place is best.. and there's not costs if you leave the existing loan in place.. if you refinance, it could cost you several thousand.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Mar 14th 2018
Pamela Riesenberg (
#19 ranked lender in New Hampshire - 13 contributions

Hi Iris,I am licensed in Fla. You have a few options so if you would like to discuss them feel free to give me a call. I am sorry for your loss.Take care,Pamela 603.893.4100

Mar 16th 2018
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