Question by Running Man: What happens to your home mortgage when you die?
Is it possible for a home mortgage to dissolved upon the home owner or borrowers death? I figured the estate or family is responsible but what if the home has no next of kin or goes to the state or something. Question has come up a few times in conversation. Called a big bank and they don’t know how to answer this question. Does this have anything to do with recourse and/or non recourse?
Best answer:
Answer by Bill M
If there is no family and no will the house would probably belong to the bank.
Know better? Leave your own answer in the comments!
