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RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 37044
Experience:  Texas lawyer for 30 years in Estate law
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Father died he has no will and lives in SC. There is no

Customer Question

Father died he has no will and lives in SC. There is no money to pay the mortgage in my father's account nor do I have extra money to pay his mortgage. Have appeared in probate court and was assigned as executor of my father's estate, placed add in newspapers to notify creditors his estate is in probate. Can the mortgage company foreclose and take the house and all its contents? What should we be doing regarding the mortgage???
Submitted: 8 months ago.
Category: Estate Law
Expert:  RayAnswers replied 8 months ago.

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.

Expert:  RayAnswers replied 8 months ago.

If you can positive rate it is always much appreciated.

Customer: replied 8 months ago.
How long do we have to get everything out of the house and off the property before the bank forecloses? Is the foreclosure dealt with in probate court? Or can the bank act prior to the probate court finishing the estate stuff? We were told we have to wait 9 months for creditors to contact the probate court from the date the notification add was placed in the newpapers. We live out of state so it is hard to get everything done when we come in to work at the house.
Expert:  RayAnswers replied 8 months ago.

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.

Expert:  RayAnswers replied 8 months ago.

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.

Expert:  RayAnswers replied 8 months ago.

If you can positive rate it is much appreciated.Thanks so much.

Customer: replied 8 months ago.
Once you get a letter from the bank that states if you don't pay they will begin foreclosure and there is no money to pay the mortgage - How long does it take for them to foreclose on the house? I have heard it can take months?? Or can it be within one month? If the house is foreclosed on and there is stuff in the house - that stuff is lost to the bank?
Expert:  RayAnswers replied 8 months ago.

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.

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