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Old 06-08-2018, 12:32 PM
1 posts, read 558 times
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My mom passed a few weeks ago , all of a sudden with no will and no power of attorney or executor . My siblings and I have not notified the lender to her house (Chase bank ) , we are paying her mortgage . We found that the house has a Hamp Mod loan . My question is that after we go through the probate process to obtain the house deed will the lender allow us to keep the Hamp mod loan on the house . Or do we then have to refinance the house ?
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Old 06-15-2018, 06:33 AM
Location: SW Florida
9,130 posts, read 3,944,191 times
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Appears there are no knowledgeable posters here to answer your question. Maybe ask Chase Bank of an attorney?
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Old 06-15-2018, 05:52 PM
Location: 5,400 feet
2,210 posts, read 2,278,381 times
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Powers of attorney expire with the person who gave them. You or one of your siblings need to file with the probate court in your area to establish an estate and have an administrator or executor named (depending on what they are called in your area). Since there is no will, the law of intestacy in your state will dictate how the assets of your mother's estate are divided (after debts and costs of the estate are paid).

I can't speak to the Hamp Mod loan, but rarely (if ever) do lenders allow heirs in to keep an existing loan. I would guess that in 99.9% of regular mortgage situations similar to yours that I have seen, the house would have to be refinanced or sold.

This seems to state that heirs to Hamp Mod may be able to secure a new Hamp loan.
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