What to do if my mother died without a Will last year and I can no longer afford the mortgage payments on the house due to my job loss?

The house is in probate now and I have been living here since my mother’s death. The mortgage is upside down.

Asked on August 8, 2013 under Estate Planning, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

I am so sorry for your loss.  There is a lot more that is needed here to figure out what exactly to do.  Technically the estate is responsible for the mortgage.  The executor has to decide how to handle the situation, either trying for a short sale (the bank has to agree and the executor has to make sure that deficiencies are waived) or even a deed in lieu of foreclosure or bankruptcy for the estate.  Get help.  Good luck.

 


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