Mortgage payment

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Y77
Posts: 199
Joined: Mon Jan 09, 2012 10:52 am

Mortgage payment

Post by Y77 » Tue Jun 16, 2020 5:36 pm

i'm currently living with my life in her flat, on which there is still 75k mortgage. I know if she dies before me I'm entitled to live in it, but what about mortgage payment? Do I have to continue to pay it or will it be paid off automatically with her savings after she dies and I only pay the monthly talo vastikke? Thanks



Mortgage payment

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betelgeuse
Posts: 3483
Joined: Thu Aug 29, 2013 1:24 am

Re: Mortgage payment

Post by betelgeuse » Tue Jun 16, 2020 6:35 pm

Y77 wrote:
Tue Jun 16, 2020 5:36 pm
i'm currently living with my life in her flat, on which there is still 75k mortgage. I know if she dies before me I'm entitled to live in it, but what about mortgage payment? Do I have to continue to pay it or will it be paid off automatically with her savings after she dies and I only pay the monthly talo vastikke? Thanks
The estate decides and the terms of the mortgage matter. One way or the other, the bank will want the money. The estate will need to pay of debts before anything can be distributed. For example, Nordea's terms (11.2) say that the bank can demand payment if a borrower dies.

https://www.nordea.fi/Images/147-71070/RH013EP.pdf

Y77
Posts: 199
Joined: Mon Jan 09, 2012 10:52 am

Re: Mortgage payment

Post by Y77 » Wed Jun 17, 2020 8:27 am

betelgeuse wrote:
Tue Jun 16, 2020 6:35 pm
Y77 wrote:
Tue Jun 16, 2020 5:36 pm
i'm currently living with my life in her flat, on which there is still 75k mortgage. I know if she dies before me I'm entitled to live in it, but what about mortgage payment? Do I have to continue to pay it or will it be paid off automatically with her savings after she dies and I only pay the monthly talo vastikke? Thanks
The estate decides and the terms of the mortgage matter. One way or the other, the bank will want the money. The estate will need to pay of debts before anything can be distributed. For example, Nordea's terms (11.2) say that the bank can demand payment if a borrower dies.

https://www.nordea.fi/Images/147-71070/RH013EP.pdf
kiitos


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