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Left a house in a will that still isn't paid off...
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2boys4me
He's coming soon!
Member since 4/10 4260 total posts
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Left a house in a will that still isn't paid off...
how does this work? Do we sell it and the bank takes what it is still owed? Also, even though the person was paying the mortgage for about 13 years, since the market is so bad, I'm pretty sure what is left on the mortgage wouldn't be much less than what we would probably get for it.
This really stinks having to do stuff like this when someone just passes away. I really wish I had more time to grieve before getting into all this 
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Posted 11/5/10 1:53 AM  |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
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Re: Left a house in a will that still isn't paid off...
Yes if you sell it the mortgage would need to be satisfied.13 years ago the housing boom hadn't hit yet.
If you need more time, maybe consider renting it until you are ready. 
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| Posted 11/5/10 8:30 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Left a house in a will that still isn't paid off...
you need to speak with a Realtor
if they owe more then the house is worth you might need to short sell it
FM me if you have any questions
but as long as the house was never refi-ed you should be ok- I would need to run comps to be sure
I am very sorry for you loss
Message edited 11/5/2010 9:31:19 AM.
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| Posted 11/5/10 9:25 AM |
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