I couldn't find a section on the forum to discuss this issue, but I desperately need advice. My mother had no will and life insurance, only asset she had was the house. One I grew up in all my life. I'm about to be medically discharged out of the military in a few months and have no savings. I'm just in limbo if I'll get severance or medical retirement + ratings. I am paying for the mortgage at the moment, utilities, legal, my bills etc 100% debt to income ratio at the current moment. I'm getting advice on different approaches to this matter. My end goal is acquire the house, mainly because my mom worked half her life for the house and its only thing she had to leave with. As for the house as it stands:
- $51k owed on mortgage
- 2% interest rate, adjustable till 2018
- Houses go for $100k in the neighborhood
- Hamp incentive($1k applied to principal per year, payments made on time)
- $12k lien(credit card debt)
- biohazard clean up, cost ? $2k-5k or less I don't know
- $20k-30k in fixes
- starting next year I have to pay property taxes, my mom was disabled.
Consult a probate attorney ASAP
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