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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 36335
Experience:  Texas lawyer for 30 years in Estate law
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my mom passed 3 years ago and I gave the keys to her home

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my mom passed 3 years ago and I gave the keys to her home to the lender because i could not pay the note. I have been paying the city and parish property taxes. The lending company is just letting the house deteriorate. could I try and negotiate with them on a price for the house, I just hate seeing the house house going down?

Thanks for your question and good evening.

You can certainly contact the lender here to see if they would make a deal to let you buy the place.The lender decides if they want to make some kind of deal with you.Eventually they likely foreclose and would list the property.They may be agreeable to make a deal if the property has gone through foreclosure.It doesn't hurt to make contact and see what they say.

Overall it is probably a long shot but you never know.I can understand your frustration with the lender in this situation.See if they will make you some kind of offer and then decide if that is acceptable to you.The lender has the final say since they have the property here.

I appreciate the chance to assist you tonight.I appreciate the chance to do so.Please let me know if you have more follow up.Thanks again and good luck here I hope the lender might talk to you about a sale.


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Customer: replied 3 years ago.

does it normally take over 3 years for the lender to foreclose on a property?


No it doesn't.Unless the lender had their own bankruptcy or sale or something like that.That is an extraordinary length of time.It is worth a phone call here just don't get your hopes up.Its a long shot but they might be willing to talk to you about a sale.I hope they will do so.You never know unless you try.
RayAnswers and 2 other Estate Law Specialists are ready to help you
Thanks for letting me help you. I appreciate the chance to do so.If you have more real estate questions please post them for Ray, thanks again.
Customer: replied 3 years ago.

I do have a question. I have been advised that the mortgage
was charged off but each person I have spoken with gives me another person to contact. What exactly is charged off and why would no one with the mortgage company have any answers?

Charged off references the lender dinging the person's credit rather than say suing for the balance owed.Often if the lender feels they cannot collect they will do so.Sometimes they will not even foreclose and just let the tax authorities take the property. You certainly may want to keep pursuing this if you want to try and recover the property from the lender, they might be willing to make a deal you never know.I wish you good luck here.

Thanks for the follow up.

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