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Mortgage on an inherited property

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noellesnews

Junior Member
What is the name of your state (only U.S. law)? California

If a beneficiary defaults on the mortgage payments, how would one go about making repayment arrangements? The mortgage is in the deceased benefactors name. Will the lienholder even speak with the party who inherited the property via trust? The beneficiary does not have adequate credit to refinance the property and is trying to avoid having to sell the home.
 


curb1

Senior Member
How much is the mortgage? What is the market value of the house? Why not sit down and talk with the mortgage company? It would be better to talk now than to let the situation get messy.
 

Zigner

Senior Member, Non-Attorney
What is the name of your state (only U.S. law)? California

If a beneficiary defaults on the mortgage payments, how would one go about making repayment arrangements? The mortgage is in the deceased benefactors name. Will the lienholder even speak with the party who inherited the property via trust? The beneficiary does not have adequate credit to refinance the property and is trying to avoid having to sell the home.
The bank has no obligation to speak to anybody except the administrator of the trust.
 

curb1

Senior Member
Zigner,

I got the impression that the trust had already retitled/distributed the house in the name of the beneficiary. Perhaps not.
 

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