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Cake day: June 27th, 2023

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  • Philippe23toPersonal Finance@lemmy.mlHouse refinanced 3x
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    6 months ago

    The grandkids can buy the house at that bank auction. (Although they could be outbid, naturally.)

    The estate would still owe the difference, and may be insolvent due to that, but the grandkids would not owe that difference / have to assume the mortgage.

    Assuming the estate is in debt and loses money on the house, the bank may be more involved in other aspects of the estate. For example they may want items of value (eg: jewelery) to also be sold at auction rather than gifted to heirs.

    Just saying that you may wish to pick your battles.