+ Reply to Thread
Results 1 to 5 of 5
  1. #1
    jeff188596 is offline Junior Member
    Join Date
    Dec 2009
    Posts
    2

    Unhappy want to borrow against inheritance

    What is the name of your state (only U.S. law)? CALIFORNIA I'm trying to find out if you can borrow or make a loan against an expected inheritance. We have already received a partial payment ($10,000) but the house has yet to be sold. house's value $500,000. we called the estate lawyer but he told us to be patient. they want a better price for the house but we need money to pay our bills. I was laid off because of the recession, and we're behind on our rent. I need some real advice here. please someone help me out and point me in the right direction.
  2. #2
    anteater is offline Senior Member
    Join Date
    Sep 2004
    Posts
    6,036
    Yes, it is possible. You will pay through the nose to do so.

    What kind of direction are you looking for? Google a few terms like "inheritance advance", "inheritance loan"....
  3. #3
    justalayman is offline Senior Member
    Join Date
    Nov 2005
    Location
    in the ether
    Posts
    34,641
    so, what happens if the house isn't sold for a year or two or more? How do you expect to pay back the loan? The lender isn't going to wait forever and the amount you inherit is surely not guaranteed.

    be very cautious with this. It may cost you a lot more than you expect.
  4. #4
    curb1 is offline Senior Member
    Join Date
    Mar 2002
    Location
    oregon
    Posts
    2,066
    Are you the only beneficiary? Who hired this "estate attorney"?
  5. #5
    Dandy Don is offline Senior Member
    Join Date
    Apr 2002
    Posts
    9,495
    How much is your debt in total? Is it more than the $10,000 you have already received?

    Do you know what your EXPECTED inheritance is going to be and is that a realistic figure?

    Get a loan from a bank or credit union at normal interest rates. If you sell off your inheritance to one of those inheritance buying companies, you will only get paid a third or less of its true value.

Similar Threads

  1. borrow against a estate from a will
    By slreno in forum Wills, Trusts and Estate Planning
    Replies: 2
    Last Post: 11-09-2011, 04:48 PM
  2. Motion to Borrow
    By Poppy314 in forum Consumer Bankruptcy
    Replies: 0
    Last Post: 06-14-2006, 10:29 AM
  3. letting someone borrow a car
    By mamah in forum Auto Accidents and Vehicle Claims
    Replies: 5
    Last Post: 06-06-2005, 09:58 AM
  4. letting someone borrow a car
    By mamah in forum Civil Litigation
    Replies: 0
    Last Post: 06-06-2005, 09:00 AM
  5. Book Borrow
    By TNidan in forum Other Crimes Federal and State
    Replies: 0
    Last Post: 11-01-2000, 01:21 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

© 1995-2012 Advice Company, All Rights Reserved

FreeAdvice® has been providing millions of consumers with outstanding advice, free, since 1995. While not a substitute for personal advice from a licensed professional, it is available AS IS, subject to our Disclaimer and Terms & Conditions Of Use.