Hello
Guest

Sponsored Links


Topic: Will/mortgage question  (Read 536 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 1000

  • Liked: 198
  • Joined: Mar 2018
  • Location: Aberdeenshire, Scotland
Will/mortgage question
« on: November 28, 2018, 08:51:44 AM »
Anyone here a mortgage expert?

So my dad passed away in September and he had refinanced his mortgage last year. The balance on the mortgage is over 67k (USD). My sister is wanting to move in and take over payments. I've told her she needs to have an assessment done to set if her credit will allow her to do this. Her credit is garbage. She had been trying to file for bankruptcy because she had so much debt and her full time job is working at a hardware store which doesn't pay much.

My father left the title to me and her both which obviously the mortgage company has now.

If there any way she can qualify to take over the mortgage? She's insistent she can pay the payment. I've tried to explain to her she can't and pay for maintenance too.

I want to pull my hair out at this point and sell it.

Help anyone?

Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


  • *
  • Posts: 15954

  • Liked: 3807
  • Joined: Jun 2012
  • Location: Wokingham
Re: Will/mortgage question
« Reply #1 on: November 28, 2018, 09:20:35 AM »
Ooo, sticky situation.

I'm not a mortgage expert at all, by the way.

But she'll only get a mortgage if she's a good credit risk.  Sounds unlikely. 

Oh, wait!  I'm getting it.  She doesn't want to go through the proper channels, does she?  She just wants to move in and pretend nothing has changed?!?  Oh, don't go there.  Like really really don't go there.  I imagine it's not even legal.
 
Who is the executor of the estate?  Is there a lawyer involved?  Put them on it.   ;)


  • *
  • Posts: 1234

  • Liked: 58
  • Joined: Jun 2011
  • Location: Congleton, Cheshire
Re: Will/mortgage question
« Reply #2 on: November 28, 2018, 10:29:54 AM »
You own 1/2 share in the house; if she 'takes over' the mortgage - which would seem unlikely to happen, as the mortgage is in your father's name - if she defaults, you lose.

Do NOT go there - I agree with KFDancer 100%.

In the interim, I assume the mortgage payments must still be made. Personally, I would sell the house and pay off the mortgage ASAP.
Married December 1992 (my 'old flame' whom I first met in the mid-70s)
1st move to UK - 1993 (Letter of Consent granted at British Embassy in Washington DC)
ILR - 1994 (1 year later - no fee way back then!)
Back to US in 2000
Returned to UK July 2011 (Spousal Visa/KOL endorsement)
ILR - September 2011
Application for naturalization submitted July 2014
Approval received 15-10-14; ceremony scheduled for 10 November!
Passport arrived 25 November 2014. Finally done!


  • *
  • Posts: 15954

  • Liked: 3807
  • Joined: Jun 2012
  • Location: Wokingham
Re: Will/mortgage question
« Reply #3 on: November 28, 2018, 10:59:52 AM »

In the interim, I assume the mortgage payments must still be made. Personally, I would sell the house and pay off the mortgage ASAP.


This.  If she wants to buy it at fair market value, non-issue.  Even slightly reduced if no real estate fees.  But not just move in and squat.  ;)


  • *
  • Posts: 1000

  • Liked: 198
  • Joined: Mar 2018
  • Location: Aberdeenshire, Scotland
Re: Will/mortgage question
« Reply #4 on: November 28, 2018, 11:04:48 AM »
Ooo, sticky situation.

I'm not a mortgage expert at all, by the way.

But she'll only get a mortgage if she's a good credit risk.  Sounds unlikely. 

Oh, wait!  I'm getting it.  She doesn't want to go through the proper channels, does she?  She just wants to move in and pretend nothing has changed?!?  Oh, don't go there.  Like really really don't go there.  I imagine it's not even legal.
 
Who is the executor of the estate?  Is there a lawyer involved?  Put them on it.   ;)

I’m executor. Yea I told her real quick she wasn’t moving into the house like nothing changed. The mortgage company was notified of his death and they know he had a will. It has to sit in probate for six months. My lawyer said we should sell. I want to sell.  I’m just so sick of dealing with this.
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


  • *
  • Posts: 1000

  • Liked: 198
  • Joined: Mar 2018
  • Location: Aberdeenshire, Scotland
Re: Will/mortgage question
« Reply #5 on: November 28, 2018, 11:08:19 AM »
You own 1/2 share in the house; if she 'takes over' the mortgage - which would seem unlikely to happen, as the mortgage is in your father's name - if she defaults, you lose.

Do NOT go there - I agree with KFDancer 100%.

In the interim, I assume the mortgage payments must still be made. Personally, I would sell the house and pay off the mortgage ASAP.

Everyone wants to sell but her. I don’t know how I need to say it differently to where she understands.  I messaged my cousin as she’s in real estate about how to get this rolling. At this point, I’m over it. She just wants to live there because it was his house. I get that but it wasn’t our childhood home and it’s a material possession. She just wants to hold on to everything.
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


  • *
  • Posts: 13626

  • Liked: 4621
  • Joined: Sep 2010
Re: Will/mortgage question
« Reply #6 on: November 28, 2018, 12:16:00 PM »
Everyone wants to sell but her. I don’t know how I need to say it differently to where she understands.  I messaged my cousin as she’s in real estate about how to get this rolling. At this point, I’m over it. She just wants to live there because it was his house. I get that but it wasn’t our childhood home and it’s a material possession. She just wants to hold on to everything.

Everyone deals with situations like this differently. Maybe some grief councelling would help her come to terms with the loss of your father and make it possible for her to let go.
March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.


  • *
  • Posts: 1000

  • Liked: 198
  • Joined: Mar 2018
  • Location: Aberdeenshire, Scotland
Re: Will/mortgage question
« Reply #7 on: November 28, 2018, 01:00:09 PM »
Everyone deals with situations like this differently. Maybe some grief councelling would help her come to terms with the loss of your father and make it possible for her to let go.

I did suggest it to her. The hospice company had a great one. Hopefully she'll go.
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


  • *
  • Posts: 1000

  • Liked: 198
  • Joined: Mar 2018
  • Location: Aberdeenshire, Scotland
Re: Will/mortgage question
« Reply #8 on: November 28, 2018, 01:03:30 PM »
I do hope I'm not coming across heartless. We are polar opposite in every way. I just get so frustrated with her. I've always the one to have dealt with things our whole lives even though I'm the younger one.

I just want her to be happy and find the right place to live and have a good life.
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


  • *
  • Posts: 13626

  • Liked: 4621
  • Joined: Sep 2010
Re: Will/mortgage question
« Reply #9 on: November 28, 2018, 01:16:37 PM »
I do hope I'm not coming across heartless. We are polar opposite in every way. I just get so frustrated with her. I've always the one to have dealt with things our whole lives even though I'm the younger one.

I just want her to be happy and find the right place to live and have a good life.

Sorry, I didn't mean to make you think that. It's understandable that you're frustrated.  Being executor is a thankless task and she's making it harder for you than it needs to be. I just thought that might help is all.  :)
March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.


  • *
  • Posts: 3226

  • Liked: 647
  • Joined: Apr 2016
Re: Will/mortgage question
« Reply #10 on: November 28, 2018, 01:29:39 PM »
I understand your sister wants to keep the house and continue on like nothing has changed, but she will have to "buy" your half of the house and the remaining balance on her half with a new mortgage. It's not even a simple refinance in this situation. If she doesn't have the credit to qualify for a mortgage it's not heartless to say no, it's the responsible thing to do. You could contact a mortgage broker in the area to see if she does qualify, that's usually free of charge, and that could help her realise it's not a reasonable expectation at all. This happens often, the mortgage broker should be able to handle it kindly. (it happens in divorces as well)  I'm sorry this is dragging out for you, my sympathy!

Sent from my Nexus 5X using Tapatalk



  • *
  • Posts: 1000

  • Liked: 198
  • Joined: Mar 2018
  • Location: Aberdeenshire, Scotland
Re: Will/mortgage question
« Reply #11 on: November 28, 2018, 01:53:13 PM »
Sorry, I didn't mean to make you think that. It's understandable that you're frustrated.  Being executor is a thankless task and she's making it harder for you than it needs to be. I just thought that might help is all.  :)

No I just re-read some of what I typed and didn't want it to be misconstrued.  :D
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


  • *
  • Posts: 1000

  • Liked: 198
  • Joined: Mar 2018
  • Location: Aberdeenshire, Scotland
Re: Will/mortgage question
« Reply #12 on: November 28, 2018, 01:55:55 PM »
I understand your sister wants to keep the house and continue on like nothing has changed, but she will have to "buy" your half of the house and the remaining balance on her half with a new mortgage. It's not even a simple refinance in this situation. If she doesn't have the credit to qualify for a mortgage it's not heartless to say no, it's the responsible thing to do. You could contact a mortgage broker in the area to see if she does qualify, that's usually free of charge, and that could help her realise it's not a reasonable expectation at all. This happens often, the mortgage broker should be able to handle it kindly. (it happens in divorces as well)  I'm sorry this is dragging out for you, my sympathy!

Sent from my Nexus 5X using Tapatalk

Thank you for that info! Yes, I told her she could go get an assessment done to see what she qualified for. We've been over this since we found out there was a mortgage. I'll think she's finally understood and then...nope. I said something yesterday about our cousin selling the house and her response was 'Oh, you're selling it??' to which I responded yes...then she said 'well i guess i'll have to find another house then'.

 ::)
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


  • *
  • Posts: 15954

  • Liked: 3807
  • Joined: Jun 2012
  • Location: Wokingham
Re: Will/mortgage question
« Reply #13 on: November 29, 2018, 01:59:05 PM »
I'm really sorry you have this added on top of everything else you have going on.  You aren't heartless in the least.  But we've all watched enough Judge Judy to know this won't end well.  ;D

I'm glad she seems aware of the situation now.  Hope you get a quick sale and top dollar.  :)


  • *
  • Posts: 3226

  • Liked: 647
  • Joined: Apr 2016
Re: Will/mortgage question
« Reply #14 on: November 29, 2018, 02:15:24 PM »
I will say this - staging the house if it's been empty really helps. I had someone do that to mine while it was on the market and it sold with the next viewing. Was worth every penny :)

Sent from my Nexus 5X using Tapatalk



Sponsored Links