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  Home >> Special Situations >> Deceased Individuals  
Status of Mortgage and Home after Death of Owner

What happens to the mortgage and home after the death of homeowner?

Untitled

The home becomes an asset of the estate, and the mortgage becomes a liability. The executor of the estate would look for insurance that may pay the debt and then would handle the final disposition. The home could be sold to retire the debt.

Published on BankingQuestions.com 6/04/09