What Happens To My VA Mortgage If I Die?

Can I use my deceased fathers VA loan?

Surviving Spouses, Children and VA Loans.

While children of veterans are not eligible for a VA loan, surviving spouses may be eligible if they fall into one of the VA’s three basic areas of consideration..

Can a widow use the VA home loan?

New law extends VA loan eligibility to more surviving spouses. Now a veteran’s death does not have to be duty-related for the widow to become eligible for VA home loan benefits. … Military widows can now be eligible if the veteran was rated totally disabled and eligible for compensation prior to death by any cause.

What happens if your spouse dies and you are not on the mortgage?

If there is no co-owner on your mortgage, the assets in your estate can be used to pay the outstanding amount of your mortgage. If there are not enough assets in your estate to cover the remaining balance, your surviving spouse may take over mortgage payments.

What can disqualify you from a VA loan?

Dishonorable Discharge Veteran status requires that service members are discharged or released from the military under conditions other than dishonorable. A veteran with a dishonorable discharge will not be eligible to participate in the VA Loan Guaranty program.

Who pays mortgage when owner dies?

Joint mortgages In these situations the surviving owner becomes solely responsible for the mortgage. This means that the surviving mortgagor is responsible for paying off the mortgage, whether they inherit any assets from the deceased or not.

Do VA disability payments continue after death?

No, a veteran’s disability compensation payments are not continued for a surviving spouse after death. However, survivors may be entitled to a different type of benefit called Dependency and Indemnity Compensation.