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Mortgage Loan In Case Of Borrower's Death
Please let me know about mortgage loan outstanding at the time of death. Is the house considered bank property or the deceased still responsible for that loan. Thanks
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1 Reply
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Mortgage Loan In Case Of Borrower's Death
updated 1 year, 4 months ago
2 Members
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1
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It really depends upon the mortgage contract and the prevailing laws applicable in the jurisdiction. In most cases, the heirs are allowed to take over the loan and keep the property.
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