Posted on: 25th May, 2010 01:21 pm
my mother left me as executor in her will. she had a warranty deed placing me as the grantee to her home. the home is still under a mortgage and the mortgage is is listed on the warranty deed. i was living with her at the time of her death and it was her intention for me to continue to live here. i have been making the payments for several years. i haven't changed anything. i'n not able to qualify for a loan to refinance so i am worried about being forced to sell during this down time. i have tried to stay under the radar for a while but it's making me crazy. i'm trying to find an attorney and have made an appt. but i just happened on you site so i thought i would run this by you.
Hi
Is the mortgage listed in your name? If yes, then you can apply for a loan modification with your lender in order to save the property. You will get a revised rate and term for your loan which can be affordable for you to pay off the dues.
Thanks
Is the mortgage listed in your name? If yes, then you can apply for a loan modification with your lender in order to save the property. You will get a revised rate and term for your loan which can be affordable for you to pay off the dues.
Thanks
No, the loan is still in her name. I don't think I can qualify for the loan in my name, that's why I haven't done anything about it. If it was in my name I wouldn't need to get a loan modification or do anything else.
Welcome back,
I would suggest you to contact your lender and try for a loan assumption. Once you assume the mortgage, you will be considered as the borrower. Then, you can make the payments on the loan.
I would suggest you to contact your lender and try for a loan assumption. Once you assume the mortgage, you will be considered as the borrower. Then, you can make the payments on the loan.
ELoans are not assumable anymore. At least this one isn't. My worry is that there is so much equaty that they might just force me out somehow. I know I'm probably being paranoid but no one seems to really know what my options are. I am trying to find an attorney that can help.
Hi!
Welcome back to forums!
You are in a tough situation. You had mentioned in your earlier post that you won't be able to refinance. I guess there are credit related issues. You can ask your friends or your relatives to cosign for the loan so that you can refinance the loan.
Feel free to ask if you've further queries.
Sussane
Welcome back to forums!
You are in a tough situation. You had mentioned in your earlier post that you won't be able to refinance. I guess there are credit related issues. You can ask your friends or your relatives to cosign for the loan so that you can refinance the loan.
Feel free to ask if you've further queries.
Sussane