Act 91 notice on grandma home with dementia

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Act 91 notice on grandma home with dementia

Christopher Owens
Specialist · Philadelphia, PA · Member since 2017 · 9 posts · 3 votes

I have a grand father living in a family home, he’s in his mid to late 80s… he hasn’t paid the mortgage in nearly 6 months now… received a notice in the mail for an Act 91 notice of foreclosure here in Philadelphia PA… zip code 19141; Logan section of Philly.

Background: home in my grandmothers name… she has dementia! Living with family in another home… her husband lives in the home, alone and is 5-6 months behind on the mortgage… he not working, gets a monthly check roughly 2500 month… says it’s to hard to pay…

Total Morgage amount: unknown! (TBA)

Amount due; $ 4,300

Monthly mortgage amount: $835.00

Estimated value of home via realtor app: $150k

Home is habitable but needs updates and repairs…

My aim is to calculate the numbers and generate a valuable solution to take over the deed / Morgage if it makes sense.

Given the situation; unsure how to proceed… please HELP!

Advice is welcomed… please and thanks in advance!

Dr. Owens

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  • Chad U.
    Investor · Boca Raton, FL · Member since 2012 · 1k+ posts · 1k+ votes
    1y

    Getin touch with whomever sent the ACT91, and either the servicer or the legal firm.  They will need to verify you as a 3rd party authorized to discuss the mortgage, so your Grandmother will need to give permission - this can be done over the phone. 

    At this point you can bring the arrears current by paying what's owed, then continue making payments for them.  Or you can have your grandparents deed the property over to you, at which point you can refi the property in a mortgage in your name.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @Christopher Owens:

    I have a grand father living in a family home, he’s in his mid to late 80s… he hasn’t paid the mortgage in nearly 6 months now… received a notice in the mail for an Act 91 notice of foreclosure here in Philadelphia PA… zip code 19141; Logan section of Philly.

    Background: home in my grandmothers name… she has dementia! Living with family in another home… her husband lives in the home, alone and is 5-6 months behind on the mortgage… he not working, gets a monthly check roughly 2500 month… says it’s to hard to pay…

    Total Morgage amount: unknown! (TBA)

    Amount due; $ 4,300

    Monthly mortgage amount: $835.00

    Estimated value of home via realtor app: $150k

    Home is habitable but needs updates and repairs…

    My aim is to calculate the numbers and generate a valuable solution to take over the deed / Morgage if it makes sense.

    Given the situation; unsure how to proceed… please HELP!

    Advice is welcomed… please and thanks in advance!

    Dr. Owens


     have you looked into them getting a reverse mortgage?

    In philadelphia it will take a good year to foreclose and another year plus after foreclosure for sheriff to ratify the sale, so while its important to try and work with the lender I would let you know you are not in danger of losing the home anytime soon.

    As Chad mentioned get permission to speak with the servicer. Also may want to have someone assist with managing the grandfathers financials as well, as if he has $2500/mo coming in where is the $ going?

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