Mortgage Made Easy | Your next chapter
Your Home After Losing a Spouse: Support for Your Next Steps
Your home may hold a lifetime of memories. When you are also facing unfamiliar mortgage questions or a change in income, it can feel like a lot to carry. You do not have to sort through every choice alone.
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Start with the home and finances you have today
If your home is paid off, the conversation may be about ongoing household expenses, savings, and whether to access equity or keep things as they are. If you still have a mortgage, the section below can help you organize questions about that existing loan. Neither situation means you need a new mortgage.
We can take this one question at a time.
You can bring someone you trust, or meet with me on your own. I will help you separate the mortgage questions from the estate or legal questions that belong with your other advisors.
Amy DeBusk | Branch Manager & Mortgage Advisor
Amy DeBusk Home Loans, powered by loanDepot
When you are ready, explore the reverse mortgage questions and complimentary guide, or the broader Homeowner Hub. I will help you understand the options without rushing your decision.
You Deserve Clear Answers and Space to Think
I can help you understand the mortgage side of your situation, organize questions and explore what staying or moving could mean financially. You choose who joins the conversation and how we move forward.
Some paperwork or payment deadlines may need prompt attention. That does not mean you need to make every long-term decision at once.
If You Have an Existing Mortgage
Contact the company that collects your mortgage payment, called your servicer. Ask what documents it needs to discuss the account and confirm your interest in the home. Depending on the circumstances, these may include a death certificate and ownership or estate documents.
Do not assume you must refinance simply because your spouse has died or your name is not on the loan. Certain successors in interest have protections under mortgage servicing rules. Ownership, responsibility for the debt and taking over payments are separate questions. Your servicer and an estate attorney can help clarify your situation.
If payments are becoming difficult, contact the servicer promptly to ask about available assistance. If the home has a reverse mortgage, contact that servicer promptly too, because surviving-borrower and non-borrowing-spouse rules require specific review.
What Would Help You Feel More Settled?
Remaining in the Home You Love
Start with the ongoing costs: mortgage payments, taxes, insurance, utilities, repairs and any HOA dues. We'll consider how those fit your current income and spending plan before looking at borrowing.
Adjusting Your Financing
Refinancing or a home equity option may be worth exploring if you qualify and the costs make sense. A new loan is not automatically the right answer. I'll help you compare it with keeping your current financing.
Exploring Retirement Mortgage Options
For eligible homeowners, a reverse mortgage may be one option to discuss. It is a loan that uses equity, with costs and ongoing obligations, including taxes, insurance and property upkeep. It deserves a careful review alongside your other choices.
Learn about retirement and reverse mortgage options.
Choosing a Different Home
A smaller home, less maintenance or being nearer to people you love may feel right. We can explore the financing side of that move while your real estate professional helps with selling and finding the right place.
A Few Things to Gather When You're Ready
- A recent mortgage statement and any notices from the servicer.
- Property tax, insurance and HOA information.
- Your current income and regular household expenses.
- Questions about the home, plus the names of professionals already helping you.
Please use secure channels when sharing personal documents. You can begin our conversation with questions alone.
You Can Bring Someone You Trust
If it helps, invite a family member, friend or advisor to our meeting. I'll speak with you directly and explain the choices clearly. For estate, title and tax questions, we'll identify what needs to be reviewed with your attorney or tax professional.
Read the CFPB's information for homeowners after the death of a loved one.
Let's Take the Next Step Together
Your complimentary 30-minute discovery call is a chance to ask questions and talk through what matters to you. We can meet by Zoom or phone, or at my office by appointment.
Book Time With AmyNeed to reach me sooner? Call or text (916) 705-2557, or send me a question.