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House refinanced 3x (reddthat.com)

submitted 1 month ago by [email protected] to c/[email protected]

26 comments fedilink hide all child comments

My grandmother bought the home we lived in the 90s for 90k at a 8% interest rate. I found out she refinanced the house several times from what seems like predatory practices and malicious advice and now owes 250k at 6%. Basically the house I thought was paid off now has 30 mortgage and she is 90. Her grandkids are in the will to inherent the house but do we inherent this mortgage?

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[–] [email protected] 15 points 1 month ago (1 children)

Massively depends where you are in the world.

Best guess would be the house will be sold off by the estate to close the mortgage. So unless you want the house+mortgage I doubt you will get the house.

[–] [email protected] 1 points 1 month ago

Which means basically we take on what was agreed on the balance with probably a different interest rate?