moving_forward
Junior Member
Hi. Here is my situation. Me and my two siblings inherited a home when our mother passed away in year 2000. I am now 24 years old, my brother is 18 and my sister recently turned 16. My mother's insurance paid off the home mortgage and is now under a deed with all three of our names including the assigned executor which is our aunt (mother's sister). We are all living separately now where I am living with my girlfriend, my brother is living with our father (legally divorced from mother), and sister is living with grandfather in our home. I am currently working full time at 40 hours per week and going to school 4 times a week and in need of a cash loan of approximately $10,000 - $15,000 for bills, school, pay off debt. Our home is worth approximately $300,000 - $350,000. I have been researching on probate loans and heir loans which state they will fund you cash but will have to assign part of my inheritance to them. How exactly will that work when I will only own 33% of the home which is still currently in probate until my sister turns 18 yrs old. What if we do not decide to sell the home? What will happen if my brother and sister agree for me taking a loan against my inheritance and executor (aunt) declines request. What actions/step should I take if this situation should happen? Thank you for your time.