Legal Question in Banking Law in Maryland
if two persons buy a home and one co-signed the note, and the cosigner dies, but the loan was insured, does that mean that the loan is paid off
Asked on 1/09/11, 11:40 am
1 Answer from Attorneys
Phillip M. Cook
Cook Legal Services, LLC
It depends on the type of insurance you are talking about, but in all likelihood no, it does not mean that the loan is paid off. Would need more facts to give you a specific answer. If you want to resubmit your question with additional facts, you might get an answer.
Best of luck.*****The above is for informational purposes only and does not create an attorney-client privilege.*******
Answered on 1/14/11, 1:15 pm
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