What happens if you make your final mortgage payment but the primary borrower on the mortgage is deceased?
Asked by
AshlynM (
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August 30th, 2011
Say the surviving spouse has continued to make mortgage payments after the husband dies.
Her name is not on the mortgage note. What happens after the final payment?
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2 Answers
It is not a matter of who is on the note, it is who is on the deed. This would probably change according to state laws. The house might have needed to go into probate upon the holder of the deed’s death. In some states it just automatically goes to the spouse (in the absence of a will.)
What matters is who the estate has gone to. If the spouse left the property to the other spouse, then they own the house. The death should have been reported to the mortgage holder at the time of the death. She should talk to the bank or to a trusts and estates atty for advice. Or she could just wait to see if they send her the paperwork saying the loan is paid off.
Even so, she needs to get the deed in her name, if it is not already in her name. Who is the executor of the estate? That is the person who should have taken care of this.
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