What happens to mortgage when person dies

My father and I are buying a hom, but he will be on the mortgage. I will be on the
title. In the event he dies before the mortgage is paid off what happens to the
house?

Asked on October 16, 2017 under Real Estate Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

If you are both on the mortgage, nothing changes when he passes: since one of the mortgagors (you) would still be alive, you keep paying the mortgage as you had been. If only he is on the mortgage, then when he passes away, the mortgage comes due in full immediately.  You'd then have to either pay it off (either using your own money or, if you are the personal representative of his estate, estate money, or a combination of the two), or be able to take out a mortgage in your own name to replace that mortgage. If you can't do either, the lender could foreclose.


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