My mom passed away without a will and she has a 150k mortgage on the house. How do I avoid foreclosure?

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My mom passed away without a will and she has a 150k mortgage on the house. How do I avoid foreclosure?

I still live in the house and they are threatening to foreclose on the house because payments haven’t been made. My sister and I are still going through the estate process. Once that’s finished, what steps if any can I take to make sure I don’t lose the house? We would like best to keep it and fix it before we sell it.

Asked on June 11, 2009 under Real Estate Law, New Jersey

Answers:

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

Answered 11 years ago | Contributor

I am sorry for your loss.  When you say that you are going through the estateprocess do you mean that you have an attorney and they are filing an estate proceeding?  The house is an asset of the estate.  Ask the attorney to make a few calls and see what is needed to bring the foreclosure to a halt.  Maybe some other asset can be liquidated quickly to stop the foreclosure and bring the mortgage up to date.  You should also contact an experienced real estate attorney who may be able to help with renegotiating the loan, bailout options, etc.  No one wants to foreclose these days and in this economy.  Take the necessary steps now.


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