- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (2)
- wetdawgs
- Contributions:26816
When a person dies, mortgage payments are still owed by the estate until proper steps have been taken of to dispose of the property. Should the estate chose not to take these steps, then the bank can foreclose on the home. This means that if you wish to buy the house, you need to make sure the estate is taking care of mortgage payments.
If the house is going to be a short sale, chances are good it will have to be an "arm's length transaction", which means you are most likely not eligible to purchase it.
If the house is going to be a short sale, chances are good it will have to be an "arm's length transaction", which means you are most likely not eligible to purchase it.
- Greg Wilson, "Greg Wilson MJST"
- Contributions:36
Talk to them about a Short Sale. I do this all the time. You don't want to bring the loan current unless there is equity and a good rate. Can you qualify for a loan? If you have 6 months left on your lease then you are entitled to either the time remaining or the prorated amount ($$$). You can use this as leverage with the lender; possibly a down payment?
Home owner passed away I was leasing it and have 6 months left on my Lease, I'm 1 of' 5 beneficiary
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.