Home / Inherited house with mortgage / Questions
What is a successor in interest?
Short answer
Someone who receives ownership of a home after the borrower dies, like an heir. Once confirmed, the servicer must share loan information and options with them.
See every step in 1 minuteInheriting a house that still has a mortgage
People also ask
Do I have to qualify to keep paying an inherited mortgage?›What if several siblings inherit the house?›Can the bank take an inherited house if I keep paying?›Am I responsible for my parent’s mortgage?›Can I sell an inherited house that has a mortgage?›Do I pay taxes when I sell an inherited house?›What happens to a reverse mortgage when the owner dies?›
Official sources
- CFPB: inheriting a home with a mortgageconsumerfinance.gov
- HUD: reverse mortgages (HECM)hud.gov
- IRS: inherited property and taxesirs.gov