Can You Assume the Mortgage on an Inherited Property?

Inheriting a home in a revocable trust? Before you apply for a new loan, you need to watch this.

Many beneficiaries ask: "Can I just keep paying the mortgage?" or "Do I have to refinance?" The answer is crucial because mortgage companies may try to force a refinance even if they shouldn't.

In this video, we cover:
-Outright Distribution: How the home transfers from the trust to the child immediately (Deed execution).
-Mortgage Assumption: Can you keep the existing loan?
-The Garn-St. Germain Act: The federal law that protects heirs from forced refinancing.
-Florida Law: Special rules for homestead property inheritance.

If you are a child inheriting a homestead, you may be able to assume the mortgage rather than refinancing. Don't let the lender push you into a new rate without checking your rights first!

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