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asked 8 months ago
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That will all depend on the particular circumstances. For instance, if the owner has mortgage insurance, the home would be paid for by the insurance (if the conditions are met)and the next of kin would inherit the property. If there is no mortgage insurance, the person who is executor of the estate will also inherit the mortgage unless otherwise specified in the mortgage contract. Best to check with a probate attorney using the specific situation to get the correct and legal questions answered. Good Luck
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Do you mean if no one pays the "mortgage" the bank gets it?
Yes .
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