Q: If someone passes away does their co-signer inherit the mortgage of their home or does their estate have to pay first?
Would that debt off the top as part of the deceased debt or be pushed over to the co-signer?
A: Both the estate and the co-signer are still liable for the mortgage. From there, it Depends on whether the co-signer wants the property and is willing to finish paying the mortgage. Also depends on how title was held to the property. Lastly, if no agreement is reached, the court will simply order it sold to satisfy the mortgage.
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