can i have my name removed from a probate preceeding

mrdbowens · Joined: 15 Aug 2008 Posts: 2 1.64 Dollars($)

Hi,
my mother passed away in 2006, and at the time I filed the probate papers to have my name listed as the executor of the estate. The property is now too costly for me and im afraid that I wont be able to continue to make payments on the address. Is there anyway that I revrse the process and have my name removed as the executor, thereby relinquishing the property to either the county or the lender

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi mrdbowens.

You have paid for the property for 2 years and so. So you must have some equity on this property. But if you give the property bank to the lenders then you will loose all your equity. How much equity do you have? How much do you still owe to the lender?

Best of luck,
Larry

mrdbowens · Joined: 15 Aug 2008 Posts: 2 1.64 Dollars($)

I have about 70,000 worth of equity, i owe the lender about 176.000 the house is listed with assist to sell realty and has been on the market for about 23days. listed well beneath market value. the address is 8816 providence ridge ct richmond va 23236. nice home on the golf couse. what can i do

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi mrdbowens.

Welcome back. So try to sell the property if you cannot afford it. Now in case you cannot even sell the property then you can go for deed in lieu of foreclosure but it should be you last option. How much do you earn? How much do you earn? You can even go for some affordable repayment plan also. Have consulted with the lender yet on this issue?

Best of luck,
Larry

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