dad's will and bank

[sheishvac]

What is the name of your state? nc
my step dad passed away in october 2003. he left me his house and exectrix of his estate. i have been trying since november to talk to his bank to get the house in my name. first they told me i could assume the loan then told me i could not because i was a step child and would have to refinance, now they tell me the house is not worth what is owed on it by their appraiser and i would have to come up with over 30,000 cash. i do not want to lose the house. any suggestions? i can not close the estate until i handle this

 

[Dandy Don]

What is your age--are you an adult or not?

What is the total value of this estate, and give a breakdown of the assets in it, please.

What is the house worth, and would you be willing to sell it to another party, if necessary?

The bank is giving you misleading advice, possibly because of your inexperience or naivete as an executrix/heir, simply because they want to get a big lump sum of money out of you rather than ordinarily continuing to get a monthly mortgage payment.

If you want to refinance and can afford to do it, then that is what you can decide to do--if this bank doesn't want to help you do it, then you can try to refinance with another bank.

You need to at least consult with a probate attorney and/or a real estate attorney to find out your best way to proceed. If there is enough money left in the estate to pay off the $30,000 outstanding balance, then that is the best way to go, but I see no reason why your being a stepchild would prevent you from being executrix (and I think the bank is possibly lying to you about this aspect).

DANDY DON IN OKLAHOMA ([email protected])

 

[sheishvac]

on the house it is owed 104,000 the app is only 85,000. with the same bank 2 years ago app 115500. i am 37 and live in the same neighborhood. no i do not want to sell. in the estate that is the only thing of value.