Mom passed and left house unpaid
Question Details:
My mother passed away, the house is not paid for, and there is no will. I am paying the mortgage and cant afford to pay it no more, what shall I do? There are 6 Adult children left behind.
Wills, Trusts, Probate Law Answers
What you have to do starts out a factual determination. Is there any equity in the house, or is the house worth less than the balance on the mortgage. Check with some local realtors and have them do some comparables. If the house has no equity, stop making the payments and let it go into foreclosure. (This is assuming that there are no other assets.) If there is equity, petition the court to open the estate and get yourself appointed as personal representative.
If you want to sell it, someone must be appointed personal representative of the estate.
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