Updated over 11 years ago on . Most recent reply
Property in Probate, Advice Needed
We are marketing to probates in our area and I just got off the phone with a woman who's father just refinanced his home a couple of years ago, then passed away. They owe the bank just as much as the home is worth if they sold it retail.
They also owe 2-3 months back pay on the mortgage. They just want to get rid of the house and be done with it without spending a dime of their own money. We cannot wholesale this home with the current numbers but my question is this.. Would she be best off just giving this home back to the bank and will any of this effect her financially if their is money owed?
If so, would it would make sense for us to catch the mortgage up by paying the 2-3 months and see if she will seller finance? I am looking for other options before I close the books on this one.
She is motivated and wants to get rid of it soon. They home is in great condition (may need some paint and carpets). Should we walk away or present another option to her?