After the Mortgage Holder Dies
After the mortgage holder dies, there is frequently confusion in the family and heirs as to what the next steps are to be taken. Most people expect to pay off their mortgage and live in their house during retirement. Unfortunately, life doesn’t always go according to plan. If a homeowner dies before paying off the mortgage, it could have implications for the estate and the person’s heirs. Discussing the future and preparing for that possibility can make the transition easier on family members.