Legal Question in Wills and Trusts in Illinois

My mother died and the house is in trust to my sisters and brother and myself. Mom had taken out a loan against the house and I have been making the monthly payments. The house is up for sale and I would like to know if I have to continue the payments or can this be settled when the house sells?


Asked on 5/19/11, 1:56 pm

1 Answer from Attorneys
Steve Raminiak Law Offices of Steve Raminiak, P.C.

Depending on the amount of the loan and the value of the house, it may not be in your best interests to advance payments on the mortgage from your own personal funds. Since real estate seems to be (on average) about 40% down from its peak in 2007, I would strongly recommend that you discuss this in full with an attorney. Feel free to call me for a free consultation.

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Answered on 5/19/11, 2:04 pm


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