When you inherit a home, federal law lets you assume your parents' mortgage instead of paying it off. You transfer the deed and loan to your name and keep making the same payments.
If you inherit a home from your parents, you can keep that home and not be required to pay off the mortgage. Federal law requires that you be allowed to assume the mortgage that your parents had. You can assume that loan that your parents had and take responsibility for future payments with the deed and the loan put in your name. You can just take up where they left off. Click my picture in the link for my newsletter.
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