Home Equity Loans – second mortgage

Veritas et Aequitas () asked:


Okay I asked this question before, however I wasn’t clear on some things.

My mother passed away recently and there is a home that I have been making payments on using her money from a joint account. That money has run out. I will be named executor in a few days, however a mortgage payment is due at the same time.

I do not want to put any money into the home not having any security. She has massive medical bills (even with insurance) and some other unsecured debt.

I want to keep the home and it has supposed equity however it wouldn’t sell for more than what is owed on the home so there is no actual equity, more so because last in 2005 she took out a second mortgage for home improvements.

I want to keep the home and I will pay off the home in full, however not at the expense of being held liable for her debts. It would break my heart to not have time to grieve and go through her belongings.

I will be talking to counsel soon however I am losing my mind in the moment, it’s too much.
They can take everything if they want, because my mother’s soul doesn’t reside in her belongings. I just know in the end they won’t get anything because of obligations before them such as tax and court fees, etc. There is no money to pay them.

DAVIS

HouseHelp911 asked:


I was not informed of the possibility of a sale until 12/5/07 and then only by email, which gave me only three-business days notice I did not know what to do, To make it worse she left the office early that Friday at 1:30 and they could not be reached over the weekend per their email. Every phone call I made from 12/5/07 on was delayed by the office telling me to hold on as they “must contact the lender and get back to me” they even stopped returning my calls on the day of the sale. While on the phone waiting to hear from the lender; he is auctioning off my home. Currently 150k in equity I was only behind 9k. I believe they did this to lead me on until the sale was over.
I was told there were no other bidders and my lender bought my house for himself. Now my lender wants to rent my house
help.I was delinquent on my second mortgage and I do not dispute any fault on my part for being in this position I was lied to by the lender. Help

ERICH