Estate Law Questions? Ask an Estate Lawyer.
Hi and welcome to JA. Ray here to help you tonight.
I am so sorry for your loss of parent.Your dad appears to have died insolvent.If there is no funds to make the payments all you can do is let the house go into foreclosure.
If there is any equity here all you can do is consider a cash buyer.There are many folks that buy distressed properties here, this is in that category.You will not get top dollar but may be able to salvage something.
Thanks again I appreciate the chance to help you tonight.I wish you the best.
If you can positive rate it is always much appreciated.
The bank here can foreclose on the property even if probate is not yet opened.If there has been a default they can proceed.Usually if you can show them you filed for probate they give you time to get current on the loan here.But legally they can proceed here if they choose. The lawyer for the estate can write lender and see if they will give you some time here.You can see if the court will approve a cash sale to avoid foreclosure where estate gets nothing.
Thanks for the follow up.I wish you the best I know that this can all be overwhelming.
You would have until foreclosure is complete to get the stuff out.You really ought to consider a storage building or go on and have an estate sale, time is pretty short if this is in foreclosure.Probate will not necessarily stop this.
If you can positive rate it is much appreciated.Thanks so much.
It usually does take several months.At least more than say one month.And yes you would need to get the stuff out here.If foreclosure is completed the stuff may disappear.If it has value you would want to get it out pretty quick here or sell it.Thanks again.