Posted by John Merchant on October 13, 2006 at 17:11:31:
If your wife is JTWROS, the title should go to her if/when your GM dies.
And if you continue to make the mtg payments the mtg co probably won’t call the mtg and you can just continue to make those payments until it’s paid off.
Probably won’t have any need to “assume” the mtg as that would mean qualifying with the mtg co…and these days, if it’s an ARM mtg, most lenders don’t care who’s making the pmts so long as they’re current.
I just need a clairification in Colorado - Posted by Justin Sander
Posted by Justin Sander on October 12, 2006 at 18:12:44:
Greetings,
This may sound like a repost but I just wanted to get a second opionion about our situation. We currently live with our grandmother, my wife is listed in a quit claim as a joint tennant with her grandmother. Unfortuantely, our grandmother’s health has declined. We currently do not qualify for the mortgage but can continue to make payments. Will we have any issues assuming the mortgage since my wife is a joint tenant and she is a relative? Sorry if this is a repost but I want to have my ducks in a row before anything happens.