Can persons named on title just continue to pay the mortgage of a deceased mortgage owner?

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Can persons named on title just continue to pay the mortgage of a deceased mortgage owner?

Person on mortgage recently deceased. 2 children are on title, but not the deceased person. Can the 2 children just continue making mortgage payments or mortgage be transferred to them without refinancing the mortgage? They cannot get approved for loan refinance in the amount of the debt.

Asked on October 16, 2016 under Real Estate Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Unfortunately, when the mortgagor (the person who took out the mortgage dies), the mortgage comes due immediately: the bank can look for it be paid off (such as by refinancing) all at once. Therr is no right for other people, such as those on the title but not the mortgage, to simply keep paying it. Also, there is no right for other persons, including other title holders, to take over the mortgage: the bank can choose to let them do this, but is the bank's choice, and therefore the bank must freely agree to this.
 


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