this post was submitted on 29 Sep 2024
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House refinanced 3x (reddthat.com)
submitted 1 month ago by Spacehooks@reddthat.com to c/personalfinance@lemmy.ml
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My grandmother bought the home we lived in the 90s for 90k at a 8% interest rate. I found out she refinanced the house several times from what seems like predatory practices and malicious advice and now owes 250k at 6%. Basically the house I thought was paid off now has 30 mortgage and she is 90. Her grandkids are in the will to inherent the house but do we inherent this mortgage?

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[–] CmdrShepard@lemmy.one 8 points 1 month ago

She'd have to pay the remaining balance before the bank will release the lien.