- quote -

John --

I think he has just the one house - the one he lived in all his life, but
was his mother's until she died. It would appear that the house was all the
assets his mother had, so for the estate to pay her debts, the son mortgaged
the house. For the sister to get her share, the mortgage on the house (his
mother's, now his) paid his sister. The sister used her inheritance to pay
off her own house, so the house the sister lives in is now free and clear.

Yes, I agree with you that the son will need to sell the family homestead,
as he appears to realize himself. I think he just has to do the best he can
making this house marketable and get on with it. For the rest of you out
there, this is just the sort of reason why you want to make sure you have
good credit. You never know when you will need it.

Elizabeth Richardson

In article <f1af4830.0410161120.3452cb7b[at]posting.google.com> , Eric
<hurricane350[at]yahoo.com> wrote:

- quote -

Did your mother's estate go through probate, and was it
settled in court with a judge and a lawyer? If so, then
all of your mother's debts, including house mortgages,
should have been settled at that time. None of this
should carry over onto you (not unless you were married
to your mother, which would be highly unusual).

- quote -

Again, your mother is dead, so all of her debts should
have been settled with her estate. If there was no money
left, then she died indigent, and your attorney can write
a letter to her creditors telling them that your mother
has died and there is no money left in the estate to pay
this bill. It should then go away.

- quote -

At this point, you lost me. There are too many vauge terms.
As I understand it, you have two people (you and your sister)
and three houses (your house, mother's house, and sister's
house). It seems pretty clear to me that if you sell one
of these houses, the problems pretty much solve themself.
Put both your house and your mother's house up for sale.
Sell which everone goes first. Take care of your bills
with the money. If you still have issues, sell the other
house. Then use what you have left over to buy something
that is more up your alley.

- quote -

More credit is the last thing you need. You already have too
much debt, and you are supporting one too many houses. Get
busy and get one of them sold.

-john-

--
================================================== ==================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ==================

I have a rather interesting situation that I
know I will need professional help, but I was
wondering if you could help point me in the right
direction... My mother had passed away a little over a
year ago and me & my sister got the house. I had been
living there since birth and the last year taking care
of my mother.(Alzheimers) My sister & I came to an
agreement that I would pay for her house in Florida
(127,000) and I could keep the house. My house was
appraised at 371,000. My mothers house had loans on it for
17,000 which had matured in 2002 and dont ask me why
the mortgage company wasnt hunting my mother down, but
they were not and another loan for 10,000 for some
home improvements. I had to take out a mortgage to pay
off the existing loans & pay for my sisters' house per
the agreement, but I could only get a 30 year mortgage
for 150,000 according to my mortgage guy. I was very
nieve back then, wait till you hear my APR! 9.75!
Anyways after paying lawyers fees, some old credit I
owed, the mortgages, etc... I only could pay 83,000
towards my sisters house. So now I pay 1585/month for
my mortgage 852/month for my sisters and now I have
Mass Health coming after me for my mothers expenses of
19,000! That was just one year of using them as my
mothers health coverage. That is a whole other issue but a
nyways.... I know I can no
longer afford to live here, and I would like to leave
the neighborhood anyways and build
a new house in a couple of years. I need some advice
in what I should do in the short term. I plan on
selling my house as soon as I fix up some things, but
I am not sure if I should take out a home equity loan
or just try and refinance. I have been current on my
mortgage since I got it (Nov 2003) but I know my credit is
still bad. (FICO = 653 as of 09/04) Please help!

Update: Just got denied for Citizens bank HEL of 50K on 10/16/04.
I dont know what to do. I have over 200k in equity and Im gonna
lose my house.