Can an heir to an estate refi a loan in that estate and have the loan stay in the estate even if I'm not the executor?
The estate has an equity loan tied to the house. The loan has a balance that is about 60% of the houses value. The loan has a high interest rate. My siblings and I can't afford to pay off the loan at this time but I have an excellent vica score and would qualify for a very low refi rate. Thank You for your response by theoldman from Macon, Georgia. Jul 9th 2011
MIKE CONVIN (mconvin)
#6 ranked lender in Delaware - 202 contributions
hi: I would be able to further assist if you'd like to contact me and discuss. (Mike 703 505 5300 mconvin@stconvininc.com NMLS #754875)
Gianni Cerretani (mortgagegodfather)
#32 ranked lender in Georgia - 238 contributions
Congratulations on your inheritance: If your income can support the loan and your credit is what you say it is you should have no problem obtaining financing. I would recommend that you get with a trusted loan officer with a local company so you can explore all the options available to you!
Patrick McCarthy (PatrickM)
#22 ranked lender in Ohio - 196 contributions
Highly doubtful. The estate needs to be completed and the heir(s) or executor needs to refi the loan themselves. A local bank may do it, but I doubt it. Once the heirs have taken posession, then you can refinance. Ask the estate atty to refer someone in your area.
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