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...]
Mistakes to Avoid in Estate Planning
Failing to plan, failing to update the estate plan, failing to coordinate beneficiaries, forgetting to plan for disability and long-term… READ MORE
