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CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10244
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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My husband passed 7 years ago will no assets the

Customer Question

my husband passed 7 years ago will
no assets the estate was less 100,000.00 or zero value only debt.
now the house mortgage is in his name but the house was deeded to me as my sole and separate property in 2007 during a financial dissolution, the bank will not modify the loan or talk to me on and off for the last 7 years, i went thru 3 attorneys to say there is no will or estate, 3 banks later... and another 36 months they accepted an agreement to modify basically a horrible deal .... but now after i wired the funds and signed everything they are asking for a "Letter of administration" i own the house and we are now back to zero where they said they wont talk to me, its ocwen loan servicing center like talking to a wall.
my question is this do i need a letter of admin i feel like everything i do is then cancelled out after i do i just jump thru leaps of fire rings over and over over again.
advise please
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  CalAttorney2 replied 2 years ago.

I am sorry to learn of your loss, as well as the frustration associated with this.

Have you tried refinancing the property with a loan of your own (go to a local bank, credit union, or mortgage broker). You can probably get a much better deal (the terms you are being offered are almost 2x the current rates being offered by most lenders) than what you are being offered to refinance the loan through your husband's lender, and you will not have to deal with the estate issues. (Most estate departments will require letters of administration from the probate court, even if you did not go through the probate process - even a "small estate affidavit" in the first place). So while you can probably go about getting this done with this particular lender, you may want to try a path of less resistance and see if you can't get a better deal working with a local banker or credit union to finance your home yourself, and hopefully get an interest rate that more accurately reflects the current market.