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Posted by Jim V on June 13, 2003 at 19:04:51:
In Reply to: Re: Clarification posted by Julie Koon on June 13, 2003 at 14:18:29:
: My grandmother is still on title but I'm not sure about probate. The loan payments are 5 months behind, and my mother is trying to help me out. She has not probated the will yet because of my soon to be ex-husband (he is trying to get a cut of my condo). Big mess as you can probably tell!
: Thanks for answering me.
: Julie
Well, Julie, the only answer I see is to make the back payments. No way to get a loan on the property since you don't own it, the lender probably can't do any kind of forbearance because the borrower is deceased and you can't sell the property without going through probate.
Agreed it's a big mess. Assuming there is some equity in the property, I think the only way to salvage it is to get the payments current. If you can get the loan current, you can effectively assume the loan by just continuing to make the payments and occupying the property. Finalize the divorce before completing probate and that'll solve the "ex" issue.
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