The new guidelines from the Consumer Financial Protection Bureau (CFPB) make it easier for people to assume an existing mortgage when their loved one dies. While the 2014 rule requires loan servicers to provide certain information about the mortgage to heirs, the 2018 rule requires lenders to have procedures in place to quickly identify "successors in interest" and communicate with those who have the legal interest in the property. Entitlement to Loss Mitigation Options The CFPB rules make … [Read more...]
Understanding the Life Cycle of Your Will
A Will goes through three major stages: initial planning, drafting, and execution. Understanding what the three stages entail can help… READ MORE
