What happens if a borrower passes away before the loan is paid off?

As with all other financial obligations in place when someone passes away, the loan obligation to Mosaic stays with the deceased's estate and must be satisfied by the estate.  The person responsible for satisfying these obligations is usually the executor or trustee of the estate. This person is identified in most wills and family trust agreements.  

The first step is to provide Mosaic with a copy of the death certificate. Upon receipt, we we will begin our probate process. This process usually consists of our making a claim  for payment of the full outstanding loan balance from the trust. Once this is paid, we will release the security filing held on the solar equipment.

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request


Please sign in to leave a comment.
Questions about signing a loan? Call (855) 746-7849 or email support@joinmosaic.com
Questions about managing an existing loan? Call (855) 746-5551 or email loanservicing@joinmosaic.com