Legal Question in Real Estate Law in Texas
My Mother died and left everything to my brother and I. Her home has a reversed mortgage on her home. I want to get a home loan and pay off home, and live in home. What kind of Deed/Document does the Lender need from my brother agreeing to let me purchase home.
2 Answers from Attorneys
The lender will require the will to be probated and the loan will pay off the reverse mortgage..so contact a home loan lender and they will tell you what is needed...normal cost of probate in Dallas for muniment of title runs from $1000 up plus costs. The lender may be able to include that in the loan to pay the reverse mortgage..and as you probably know, reverse mortgages must be settled within a year after death of homeowner...If I cal help, please call
How did your mother leave you two the house? Was there a will? If not, you can establish title in you and your brother's name, and then your brother can deed out to you. You'll need to contact a probate attorney to do this properly. Most attorneys (myself included) will speak with you for free to determine the best way of accomplishing everything.
For more information, please visit our website:
http://leonlaw.com
Also, please read our disclaimer:
http://leonlaw.com/disclaimer/