Mom Meant Well

[huffaker]

What is the name of your state? CA
My mother passed away in '99. She left me the house, which had been purchased under her name (I had bad credit, at the time) and I have continued paying under her name, since day one. I have her name, the only difference being the middle initial. I have been advised that If I pay a Probate referee (approx 260$) to assess the cost of the house in '99 (it was purchased in '93) and give that to a Probate attorney, along with 2 to 4 thousand dollars (hear me squeek?), this can all be straightened out. I am really hoping that I (advice from another source) can file for this sort of thing on my own, in the local LA court system and use what I have payed to date to lessen the equity shock. I am the executor of the will.

Any thoughts?

Thank you!

 

[Dandy Don]

Since the house is not technically owned by your mother and it is not hers to give away, a probate attorney is not needed.

You need to be talking to the mortgage company and confessing about your little misdeed of paying by using your name instead of hers. This was fradulent and illegal, but the mortgage company will probably forgive you since it is in their best interests to keep a paying customer (you)--you need to be asking their permission for you to refinance a loan in your name if you want to continue making the payments, and you also need to ask their permission to see if you have enough equity in the home to ask for the home to be sold so that you could share in any profits.

DANDY DON IN OKLAHOMA ([email protected])

 

[huffaker]

Thanx Thanx Thanx

I contacted the original loan company for this purpose, a few months ago, and was told "they would find a way". What I am worried about is that once we sell the house, maybe in a few years, that there will be fines, penalties etc..

Thanx so much for the advice- you're one of the good guys!

 

[Dandy Don]

Their saying "we will find a way" is much too vague. It is possible that they could decide to foreclose on the home and ask for the total amount due on the loan and then evict you. You don't need to worry about fines and penalties further on down the road. I guess things are okay if they decide to let things remain as they are as long as you continue making payments, but you are making a big mistake to continue making payments that may end up not being credited to you.