Just another ordinary day at the Moneyist's house: 'My father died and his girlfriend stopped paying the mortgage. She wants her son to swoop in — and buy the house in foreclosure' quantanamo
My mother died in 2005. My father died in 2018. There are three siblings from that marriage: my older sister, my younger brother and myself.
Her son wants to swoop in and buy it when it goes into foreclosure. When our dad died, the house stayed in his name. His girlfriend had just continued to make payments, until — I believe — they came up with this foreclosure plan to buy it from underneath my brother. Dear Daughter, Yes. You can and should open a probate case, and deal directly with both an estate-planning attorney and the bank that holds the deed to your father’s house.
Even if no one in the family has the will or money to take on the responsibility of paying the mortgage, you will get far less for the house if it’s sold in foreclosure. Banks are typically willing to negotiate on repayments if you need time, given that they may lose money on a foreclosure. By emailing your questions, you agree to having them published anonymously on MarketWatch. By submitting your story to Dow Jones & Company, the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
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