[Cybertina]

My mom is going to co-sign for a mortgage for me. She was wondering what would happen to the mortgage if she died. Would the mortgage be half paid or would I continue to pay as usual? Would it make a difference if we were both owners?

[Komaraconsulting]

You would continue to pay as usual. You can do whats called an assumption. You basically assume to pay the loan. Most lenders have an assumption department that you send the death certificate to. There are Insurance policies that can be taken out that will pay off the loan in the case one of the borrowers dies but I would double check with an insurance agent to see if you qualify.