My mom passed away, need advice on the house(probate)

1 Reply

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.
The house is basically a fixer upper at this point. As for my option 1: I can assume the loan, replace my mom name with mine. Renegotiate the lien on the house. I do have a sister, but she is doesn't   want nothing to do with the house or the debt. I'll go to college, fix the house on my own there and there. I am working with my moms lawyer, tried going to JAGG but all they could do is "advise" me. As for the second option, which someone just told early today and gave a lot of advice. I don't pay anything on the house, because it is my mom's debt. The "debt dies with the dead." The house is in probate, so it's "frozen" it's not going anywhere and foreclosure can take years or months?(which I'm afraid of, because I'm stationed overseas and have family belongings will be seized by the bank). I apply for a guaranteed home loan with the VA, call up habitat for humanity so it can pass inspection, refinance the house, could get the house even cheaper what is owed and maybe a lower interest. I'm just lost what to do or what's the best course of action. I'm paying for a house that is kinda mine but legally my name is not on the title. I have my own bills, that I'm struggling to pay and I'm getting out of the military very soon. Any advice would be appreciative.

Consult a probate attorney ASAP

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