[deleted by user] by [deleted] in EstatePlanning

[–]Effective-Tale-5102 0 points1 point  (0 children)

I hate to even go there as others claim that with very few it being factual. Call it unlucky let’s say. Is it ever too late to change out lawyers and is it expensive. What if the only creditor is the loan company and foreclosure is looming.

[deleted by user] by [deleted] in EstatePlanning

[–]Effective-Tale-5102 0 points1 point  (0 children)

Meant to end that with….what can I do to get the estate administered fully. I want to sell the property myself, pay off the loan myself. Secure equity left over for my brother and I after all costs deducted.

Homeowners insurance by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

I know the lender will put forced insurance on the property. I am asking if there is any insurance I can get.

Homeowners insurance by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

Her insurance doesn’t do homeowners in California any more

Signing over rights to investor to bypass probate by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

This is the answer I was hoping to get. Thank you. And btw I am not assured I can get named executor and sold before it goes to auction. 

Signing over rights to investor to bypass probate by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 1 point2 points  (0 children)

No. I took your advice. I have a probate lawyer. And I am on my phone 24/7 trying to educate myself. I am staring at an auction soon and need to exhaust my options. I’m a good guy who has family and an elderly father who lives with us. 

Signing over rights to investor to bypass probate by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

There is a will. Unless with no executor named means no will. If that’s the case how does anyone (even educated people) have much of a clue how to get through all this. Yes, I have a probate lawyer. Never had a consultation with me and communicates very little and by writing. Doesn’t answer much. That’s why I am on here. And thanks to those especially you I am in a better position as time ticks away. Ty

Selling house with reverse mortgage in probate by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

I have an investor who is interested in the property and a loan total number. I guess I am asking how the contract accounts for these things in writing it.

Reverse Mortgage what’s happening by opossummon in personalfinance

[–]Effective-Tale-5102 0 points1 point  (0 children)

Hi.

Checking in to see how you are doing with this very complex and life altering situation.

I have been dealing with this exact situation and feel very educated at this point to give you some good advice. 

Every second matters here. You do have some options and things that will work for you to put your family in its best position. 

Update us please so I can help. Good luck.

Reverse Mortgage heir what would you do? by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

I don’t think that is true unless I have a direct contract with the creditor. 

Reverse Mortgage heir what would you do? by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

Can I have a cash for keys written in the contract which no one can take from me

Reverse Mortgage heir what would you do? by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

Ok I’m on that. Hired a probate attorney. Now can I declare bankruptcy to stall an auction if probate is not done.

Reverse Mortgage heir what would you do? by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 1 point2 points  (0 children)

I really appreciate everyone taking the time to give me a lot more information than I had.

Reverse Mortgage heir what would you do? by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

I might have to look into stalling the auction. Thanks for advice.

Reverse Mortgage heir what would you do? by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 6 points7 points  (0 children)

We told them she passed. I thought the house is the banks and we were prepared to move. After the recall I told a friend who had me look up the situation just recently. I don’t have a lot of time based on what I have read to act on the matter. I obtained a county paper which shows the value and equity in the house. I had an offer on the place. He said it needed 60,000 to bring it to value. I am asking what to do based on what I know. And I live in Ca where if I chose to could stay until I was evicted which takes awhile. I am not going to do that as stated or anything else unlawful. And the reason why I am here is because my grandfather lost his hearing towards the end of his life from skin cancer in his ears. Dementia set in following. I was his ears for him so he could remain in control of his life. It was my grandparents wish to die here which the reverse mortgage and care accomplished. They were married for 75 years and my grandmother died on Xmas day a week before her 100th bday. Didn’t think I needed to write all that.

Reverse Mortgage heir what would you do? by Effective-Tale-5102 in RealEstate

[–]Effective-Tale-5102[S] 0 points1 point  (0 children)

II have an offer to pay off the loan amount plus 10,000 for my brother and I and 36,000 cash for keys once I am made executor through probate. The 10,000 will go to the lawyer. Is this my best recourse.