Legal Question in Wills and Trusts in California
probate,foreclosure,etc...
mother had no will and left 6 grown kids with--name removed--the worst reverse mortgage plan ever i want to keep house but hired--name removed-- negligent lawyer 2 years later pre forclosure is it too late to save our house from--name removed--horrible reversr mortgage ?
1 Answer from Attorneys
Re: probate,foreclosure,etc...
I assume that your mother has passed away. The house now belongs to her Estate and is subject to the reverse mortgage. If the house has equity, then it is worth while to open Probate, get an Administrator appointed to either refinance the property or sell it. If there is a foreclosure pending, there is a procedure for getting an injunction to stop the foreclosure, while action is taken to save the house. I don't know how far along in the foreclosure process you are (Notice of Default? Notice of Trustee's Sale?), but this process takes time, and you should act quickly.
Another option is for the 6 beneficiaries to pay off the reverse mortgage, then the Estate can sell the house, and the 6 beneficiaries get their pro rata share.
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