Stewartstown, PA asked in Real Estate Law and Probate for Maryland

Q: My husband passed away. My name is on the deed, not the mortgage. What do I need to do to get the mortgage in my name?

If I don't say anything, and just continue to pay the mortgage timely, I can no longer claim the mortgage interest on my income taxes, correct, (since it is in my late husband's social security number)?

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1 Lawyer Answer
Richard Sternberg
Richard Sternberg
Answered
  • Probate Lawyer
  • Potomac, MD
  • Licensed in Maryland

A: You can ask the bank to novate the loan, but there is alway a chance that they will call the loan if the party to whom they lent the money no longer owns the house. Most lenders will work with widows to keep from losing the house, but that isn't guaranteed. If your credit is really bad or you miss payments, they may be unable to change the loan. These days, mortgage loans are usually held by different people than service them; the loan servicer may have no choice about helping you. If so, you can find a new lender and refinance, or you can sell the property and pocket the profits to use as a downpayment on a new, smaller house. In some cases, surviving spouses simply keep paying the mortgage. If they haven't signed the note, they have no duty to the lender, so, as long as they don't lie about anything, they haven't violated anything. Just keep paying timely. Most banks don't care. If you can't pay timely, tell them that your husband died, and you need some time to sell the house. You should seek to avoid the often exorbitant late fees.

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