Probate and Assumption of Mortgage – What happens to your mortgage after you die?
By Jessica Serrano (attorney) and Arleen Muina (Senior Paralegal) Primarily, the death of a borrower does not extinguish the debt owed on a real property. If you are the only borrower under the loan, upon your passing, the mortgage holder (the “Bank”) has the right to enforce such debt and file a claim in your…