I am currently living in my dad's home worth about $100,000. It has a mortgage of about $100,000. He is currently living with my sister because of poor health and may not live much longer. What happens with the house when he passes away, assuming he still owes about as much as its worth?
The home will become part of your father's estate. The estate will have to pay off the mortgage. Unless the estate has other assets that it can use to pay off the loan, the home will have to be sold, and the bank repaid from the proceeds.
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The home will become part of your father's 