Monday, November 7, 2011

Are heirs responsible for outstanding mortgage debt and negative equity?

No, the heirs will simply not inherit anything. The estate pays the remaining debt until there is no money in the estate (her life insurnace, savings, personal possessions). If all of her ets do not cover the debts teh debtors are screwed over, not the heirs, they will not have to pay anything out of their pocket.

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