Legal Question in Real Estate Law in Hawaii
Last year my husband and I were able to qualify for a mortgage modification, we are both listed on the mortgage. At the time my husbands salary is what saved us. He passed away 4 months ago. What will the mortgage company ask when I tell them to take his name off. I will be fine for the next 4 yrs to pay the monthly payment but that will be hard for me to show on paper. Will I have to apply again since I will be the only person on the house or will they just remove my husbands name. Also could I be in trouble for not reporting his passing to them immediately. We did not have mortgage insurance.
1 Answer from Attorneys
The mortgage follows the Property and the Estate. If you are the primary beneficiary of your husband's estate his share of the Mortgage obligation will pass to you. So long as you pay the mortgage payments, you should not have a problem with the bank foreclosing. Of course, all this depends on how your Mortgage Documents and Deed are drafted. You are not in trouble for not reporting his death so long as you are making timely payments. Aloha, Jon A. Zahaby, Esq.