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Reply to "What happens to a balloon note when the lender dies?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm unclear what you are asking. If there is a mortgage then "the estate - you" either pays the bank directly, or sells the house to pay off what is owed to the bank, of the bank takes the house.... This is how mortgages work....[/quote] I'm unclear what you are asking. If there is a mortgage then "the estate - you" either pays the bank directly, or sells the house to pay off what is owed to the bank, [b]or[/b] the bank takes the house.... This is how mortgages work.... [/quote] The "Bank" would by my mother. There would be no mortgage owed to a bank, this would be borrowing directly from her with a balloon note repayment. [/quote]
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