What is the name of your state?What is the name of your state? Arkansas
Both of my parents recently passed away, my father first back in March 2004, and my mother Dec. 14, 2004. Before my mother died, she signed the title of their house over to my husband and myself, all papers were filed and I have the title to the property. My question is, there is a balance owed on the mortgage to the property. Will the mortgage be transferred to us as titled owners of the property? Should I contact the mortgage lender? I do not want to have to sell the home, my son and his family have been residing in it with my mother since my father passed away to help me take care of my mother, and they have no where else to live. I am exectutor of my mothers estate, but she did not have enough money in her bank accounts to pay off the mortgage and her final expenses. How do I handle this? Any help and advise you can give me would be greatly appreciated. Thank you.
Both of my parents recently passed away, my father first back in March 2004, and my mother Dec. 14, 2004. Before my mother died, she signed the title of their house over to my husband and myself, all papers were filed and I have the title to the property. My question is, there is a balance owed on the mortgage to the property. Will the mortgage be transferred to us as titled owners of the property? Should I contact the mortgage lender? I do not want to have to sell the home, my son and his family have been residing in it with my mother since my father passed away to help me take care of my mother, and they have no where else to live. I am exectutor of my mothers estate, but she did not have enough money in her bank accounts to pay off the mortgage and her final expenses. How do I handle this? Any help and advise you can give me would be greatly appreciated. Thank you.