Search Description

Can the Borrower’s Estate Obtain Title to the House After the Borrower Passes?
Can the Borrower’s Estate Obtain Title to the House After the Borrower Passes?

Yes, by paying off the HECM debt. If the value of the house exceeds the debt balance, no problem arises. But if the debt balance is more than the house is worth, the estate has to decide whether or not they want to incur the deficiency.