Spouse passed away, mortagage was VA loan, do I get to keep it as such?

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Will the mortgage co. want me to refinance or does the surviving spouse continue with the VA loan on the home?

4 Comments
  1. Reply
    Kenneth D
    April 29, 2011 at 10:19 pm

    You can continue with the VA loan. They will not force you to refinance.

  2. Reply
    John Y
    April 29, 2011 at 11:18 pm

    Mortgage companies always want you to refinance because they make tons of money off or you.

    Most likely the loan would stay as is if the loan was joint. Not 100% sure, but the loan probably gets re-titled.

    Sorry about your loss.

  3. Reply
    loansbytami
    April 29, 2011 at 11:43 pm

    You will definitely be able to keep the loan as long as it was a joint mortgage.

  4. Reply
    mycornerofbrickheaven
    April 30, 2011 at 12:24 am

    If your name was on the mortgage then yes, you keep it as is.

    If your name was not on it then you have the option to assume the loan. You will need to have enough income to qualify for the loan but you will be able to keep the same VA loan. Contact the bank who currently services the loan and tell them that you would like to assume the loan.

    If you don’t have enough income to support getting the loan on your own then the estate will need to sell the home.

    Good Luck!

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