Q: If I inherited a home in New Hampshire that has a mortgage can and I continue the mortgage payments?
I inherited a home with a mortgage from my mom. My name is not on the house can I continue the mortgage payments as is as I am now the successor of interest or do I have to pay the whole mortgage up front before closing.
A:
You may keep making the mortgage payments, yes. Federal law prohibits acceleration of the loan on the grounds of the death of the decedent and transfer to a child.
You do need to notify the lender of the death of their borrower and your status as "successor in interest" so they can start sending the monthly statements to you. You do NOT have to assume the loan. Don't let the lender bully you into assuming the loan.
You do need to get the house into your name or you will never be able to sell or refinance it. Hire a probate attorney in NH to help you with that.
Anthony M. Avery agrees with this answer
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