My mortgage when I die

You cannot specify that the mortgage be transferred to someone, they would have to qualify for a mortgage. You can specify that the property be deeded to them, but if they cannot get their own financing, they won't be able to keep it.

Good Morning Jennifer...You will be able to designate who the home goes to -But-the mortgage must be paid off...Feel free to contact us at 856-853-1234...or e/m Money@RonWohlfarth.com

Jennifer, you've already heard that the mortgage won't transfer over in your will, but your property rights can. I've seen a couple cases where this has happened, though. In one circumstance, the heir was able to assume the mortgage that was in place already by working it out with the mortgage servicer; in the other case, ownership was transferred from mother to daughter and the daughter made arrangements just to make payments on her deceased mother's mortgage until she was able to refinance into her name. So even though your mortgage won't just transfer over, most mortgage servicers are willing to discuss options with the heir as long as they continue receiving payment. I would suggest reviewing the terms of your mortgage note; if it's an FHA mortgage, it already has a built in assumability feature. If you're really concerned about it, you might want to look into a life insurance policy that will cover your outstanding mortgage for your close friend, also.