I am the surviving daughter of a veteran who had a VA mortgage. I live in the home as my primary residence and my father made a survivors deed naming me as the sole deed holder upon his death. I have continued to make the mortgage payments but would like to have the mortgage in my name to prevent any future legal issues. I would rather assume the mortgage then do a total refinance because the interest rate he had is very good.… show moreshow less
First, you need to find out if the loan that is in place assumable. To do that please contact the lender or if you have access to original loan documents you might be able to find it there. If the loan is assumable then you need to work with the lender on this - they will help you with all the details. If the loan is not assumable - you can not assume it. You can continue paying it down and while lender can exercise the 'due on sale' clause - they probably won't as long as you make the payments.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.