Legal Question in Real Estate Law in Missouri
Morgage
My husband recently passed away. I can not afford the morgage payments on our home.
Can I let my daughter and son in law take over my home aand morgage payments?
Asked on 7/09/06, 9:03 am
1 Answer from Attorneys
Anthony Smith
LawSmith
Re: Morgage
As long as you are current on your mortgage payments, your mortgage company probably will not care who is paying it. You could let your daughter and your son-in-law move in and start making the payments.
If you want to transfer the house to them, that might be a tougher question to answer. They mortrgage holder may insist that the loan be paid off. This may mean that your daughter and son-in-law may have to get financing somewhere else. Is your laon assumeable? If it is, that might be a simpler process.
Good Luck
Answered on 7/10/06, 2:51 am