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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 34361
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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my mother is dying and has mortgage on the house she lives

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my mother is dying and has mortgage on the house she lives in I am self employed. even if she leaves the house to how can i get the house ?
Hello and thank you for using JA! My goal is to provide you with excellent service and help with your legal problem.
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If mother passes away and leaves the house to you, under federal law, the bank can't accelerate the mortgage just because the borrower her passed. As long as you continue to make the payments on the house, they can't call the loan due.
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This is specifically under 12 USC § 1701j–3 - Preemption of due-on-sale prohibitions, a lender can not accelerate a mortgage contract simply because the borrower is deceased and the property passes to the heirs.
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But it would simplify things if she were to deed the house over to you right now while she was still living. That way it would avoid the need to have to go through probate.
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Thanks.

Barrister

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If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 3 years ago.


So do I need to apply for a new mortgage ? As I stated I am self employed and banks do not like giving loans to us. I guess what I am asking is she is dying, How can I aquire the house it is a duplex (renter upstairs). My wife and I can make the payments but want credit for it and hopefully owning it after the mortgage is satisfied I am already now on her checking account. Help ??


So do I need to apply for a new mortgage ?
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No, that is what I meant when I said the bank if prohibited from calling the loan due when mother passes as long as you continue making the payments.
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How can I aquire the house it is a duplex (renter upstairs
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She would just sign a deed over to you, you would record it at the county recorder's office and the house would be yours. You can contact a local real estate attorney to draft a quitclaim deed from mother to you. It should cost around $100.
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Thanks
Barrister
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