I have a question about saving a home from foreclosure.
My divorced mother recently had a heart attack and has been hospitalized since January. She has a modest home in Houston. She is receiving 60% disability from her insurance through her employer. Due to complications, she will be incapacitated for another 6-8 months. Since I am not in a position to meet her mortgage in addition to mine, what other options are available for saving her house until she can go back to work? Her 60% income is enough to meet her other financial obligations but not the mortgage. I have a Power of Attorney and contacted the lender and they pretty much were not helpful. Does anyone have any ideas other than selling the home? She is 62 and lives alone.
Thanks for your help.
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Saving A Home From Foreclosure Due To Illness?
Wednesday, June 17th, 2009Saving A Home From Foreclosure Due To Illness?
Tuesday, June 16th, 2009I have a question about saving a home from foreclosure.
My divorced mother recently had a heart attack and has been hospitalized since January. She has a modest home in Houston. She is receiving 60% disability from her insurance through her employer. Due to complications, she will be incapacitated for another 6-8 months. Since I am not in a position to meet her mortgage in addition to mine, what other options are available for saving her house until she can go back to work? Her 60% income is enough to meet her other financial obligations but not the mortgage. I have a Power of Attorney and contacted the lender and they pretty much were not helpful. Does anyone have any ideas other than selling the home? She is 62 and lives alone.
Thanks for your help.
I Borrowed $ From A Friend For A Home (foreclosure) And Now I Want To Pay Her, What Kind Of Loan Do I Need?
Tuesday, June 16th, 2009I’ve been making payments to her and I want to pay off the rest of the loan. I don’t know what kind of loan I should take out to pay her the rest of the money. Do I need to take out a mortgage or a 2nd mortgage, a home equity loan or a personal loan to pay my friend back?