How can I keep my home if my husband died and the mortgage was in his name?

My husband recently passed away at 35 years old. Our mortgage was in his name only but the title is in both of our names. We did not have credit life. We also have 4 young children in which I am a stay-at-home-mom. I want to know how I will be able to keep our home? Will the mortgage company just transfer the mortgage into my name or is the loan considered paid?

Asked on September 5, 2011 under Estate Planning, Missouri

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If your husband passed away at age thirty-five (35) leaving you and four (4) young children, hopefully he had life insurance to assist your future. If the mortgage on your home was in your husband's name, but title to the home is in your name, you should still continue paying the mortgage as it was done in the past since the loan for your home will not be considered paid in full just because our husband passed away.

As far as income needed to service the home's debt load, you should make an appointment with the Social Security Administration to see if your four (4) young children are qualified to receive benefits as the result of the death of their father until they reach adulthood.

You should consult with a good wills and trust attorney to asisst you and your children.

Good luck.


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