What happens to your Mortgage If you Die

@lelin1123 (15595)
Puerto Rico
May 27, 2009 12:24am CST
Ok can somebody answer to question for me. What if you own your own home and lets say you don't have a lot of money. You live paycheck to paycheck and then you die what happens to the mortgage that you owed.
2 responses
savypat
@savypat (20216)
• United States
27 May 09
Your Mortgage is attached to your land, it doesn't matter who owns it. Unless you have the type of insurance that pays off your mortgage when you die.
1 person likes this
smileonstar
@smileonstar (4007)
• United States
27 May 09
well, most likely they will turn to Trustee and find someone that able to take over this house. If no one then the bank will take over it. Another plan is about protection plan that could help you pay for a while if you Die or Out of job. I dont have any of those... but if I die, my husband or my kids will take over... I have save some much for them and also I have my life insurance that could help them as well...