Inheriting a home that has an outstanding mortgage can present a challenge. If a property is left to you and is not fully paid off, you might have the option to assume the mortgage. This process involves contacting the mortgage lender to check if the mortgage can be assumed. While it's possible to make payments without formally assuming the loan, doing so might enhance your credit. Seeking legal advice can help you navigate these complex situations effectively.
If the poster is able to assume the mortgage, they'll be responsible for whatever monthly payments come with that loan.
You may want to get a lawyer to help you navigate a situation like this.
Whether you're able to do that depends on the circumstances at hand.
It may be possible to assume the mortgage, and contacting the mortgage lender will clarify the process.
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