Legal Question in Real Estate Law in Florida

My mother recently passed away and her home has a mortgage that is underwater by about $50,000. What options do I have to take over the home without assuming such a mortgage? For example, can the bank sell the house to me at market price?


Asked on 3/21/12, 10:05 am

1 Answer from Attorneys
William Gwaltney William W. Gwaltney, Attorneys at Law

They will probably not sell the house to you or any family member at market value. There are many pitfalls to dealing with banks in foreclosure actions and the situation you have involving an estate is even more complicated. You should consult with a foreclosure attorney for an in person consultation and also talk to the attorney handling the probate of your mom's estate.

There may be options available that you have not thought about.

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Answered on 3/29/12, 11:26 am


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