Compare Mortgage Quotes

fpay1 · Joined: 06 Apr 2009 Posts: 1 1.38 Dollars($)

my dad just past, left his home with a $9000 lien on the house from a home repair loan from his bank. He left no will/estate. its just my sister and I. His property assesment is at $7800. He has done some minor cosmetic alterations to the home and plumming. How do I sell this to pay off his debt with the lien. The bank doesnt want the home because its not worth anything. But they are holding on to the deed. How can I sell this to someone. Possibly to those companies that state we buy ugly houses! Please Help!

jameshogg · Posted: Mon Apr 06, 2009 7:21 pm Post subject:

Hi fpay,

As there is a lien on the property, I don't think you will be able to sell off the property. You will have to pay off the lien first and then try selling the property. Once the lien is paid off, you can request your lender for a deed in lieu or short sale.

Thanks

smckaybiz · Posted: Mon Apr 06, 2009 7:23 pm Post subject:

Hello fpay1,

sounds like you are in a very sticky situation. Is the home in any condition to possibly rent out to someone for a year or two so you can pay off the $9K lien?

You might be able to submit a deed in lieu and just force the bank to take the property but I don't know if that is possible with your dad being passed away. You might want to consult with an attorney on that one. Most will atleast sit down with you and see if they can help you for free.

Best of luck

Guest

He says how to handle liens,get them reduced.No will means you will to go through probate or sue the state for" quiet title".I had to use a lawyer.It worked out just fine.

Guest

who created the lien in the first place has to talk to the bank (like a real estate investor).My mother died in 1994 without a will and I had to sue the state for "quiet title".I trusted the lawyer(we went to high school together).

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

parents deceased no will, lien on property how to sell home?