Assume Mortgages After the Death of a Loved One
Losing a loved one is never easy, and when it comes to managing their estate, the process can become even more overwhelming. One of the most common concerns families face is what happens to a mortgage when a relative passes away. Fortunately, the Garn-St. Germain Depository Institutions Act of 1982 provides critical protections that generally allow families to assume the mortgage on inherited property without facing immediate financial pressure.
