My mother left her house in a will to me and there is still money owed on the house if I can not get financin?

Question

can i continue to pay her mortgage

Answer 1

Yes, this is the one case where loans can be assumed.   They will switch it over to you, no refinancing, or qualification required.

Answer 2

Truthfully, contact the Surrogate Court where the home is located.

The latter will provide all the available information in reference to what is required.

  

Answer 3

I suspect that if you just keep the payments coming, her mortgage company won't object to it.

If you want to, you can call her mortgage company and ask how to have it transferred to your name. That way, you'd get the payments you make added to your credit report. You have them over a barrel because if they don't want to work with you, who will pay the mortgage? They'd have to foreclose on the house, which they are not going to want to do.

If your credit is poor, they may try saying you have to refinance it at a higher rate, but again, I think the ball is in your court on this one.

Also consider calling the lawyer who handled your mother's will/estate and ask how this kind of thing usually works. I'm sure this happens to other people, too. You might also ask the lawyer your mother used for buying the house, or the real estate agent, before calling the mortgage company, just so you have more information beforehand.

Answer 4

Contact the mortgage company and find out how they want to handle it. The easiest route would be to try to get it refinanced in your name. If you can't do that, they may just put a lien on the property (where you owe them that money whenever you sell) or force you to sell now to get their money back. But, if you couldn't secure financing to pay off the debt somewhere else, I doubt they would just let you take over your mother's payments.