I have a friend who mom passed a year ago who did not have a will and she left behind two daughter's who are now making the mortgage payments of $2100 a month the house is upside down at $389,000.
The house now is only worth $305,000 the mortgate company sent them a letter stating they can get a new loan that will bring the mortgage down but due to mortgage being in the mother's name they can not get the loan changed to lower the monthly mortgage.
What if any can they do?
Also one of girl's don't work and they are 3 months behind in mortgage right now.
Thanks for your time and help.
Tony
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They should be able to get
They should be able to get something done with the death certificate and the help of a real estate attorney. What area are they in?
helping a friend need help
Also maybe they could after they get that taken care of or even before if they can. See if they could do some forced appreciation, like painting, cleaning, any landscape things, simple low cost effective things to bring the value up. Have it appraised and then refinance in there names maybe just an idea or two. Definetly like joatmon said get an attorney and it should be able to be taken care of because they are the heirs of her estate. Should be able to transfer everything into there names with the death certificate.
Wow!
Hi, I am Nancy and just read this thread, I was curious to know what happened? I see it was posted in 2011, this would be good for me to know because if I ever run into the same situation I will know what to do. For me to learn by your experience it would be most appreciated. I hoped it all turned out well the the ladies.
God bless you and yours!
don not know
I have just started Nancy cant tell you