Legal Question in Real Estate Law in Florida

In Broward county Fl. as executer to be of my mothers estate, in regards to her house which she borrowed $270,000. against in 2009, and owes a balance of $140,000. to the reverse mortgage from HUD (Reverse Mortgage Solutions).

Is it possible to get a loan modification?

I think some of this money was used to pay off the house, leaving this the only amount owed.

The house was over valued, has never been worth that, and has since deteriorated badly. I doubt it's worth half the balance owed...

I would like to keep the property if possible, repair to sell, and live in while doing so.

Thank you, Kim


Asked on 4/20/14, 10:50 am

1 Answer from Attorneys
Barry Stein De Cardenas, Freixas, Stein & Zachary

Not likely going to happen, but it does not mean it is not worth trying. Hire an attorney to try and assist. You will need an attorney to probate the Estate if the house was you in mother's name alone.

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Answered on 4/20/14, 11:47 am


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