Q: My sister bought me out of my share of our parents house with a personal mortgage to me before she passed away.
Her children refuse to honor a mortgage debt of 70,000 to me. What can I do? The mortgage was recorded.
A: Assuming that the mortgage was properly executed, you can foreclose on the Mortgage and you can also likely make a claim to the Estate for the Purchase Money Note that was likely signed at the the time.
A: Initiate foreclosure of the mortgage. You also need to file a claim in her estate, if there is a proceeding.
A: Send an acceleration notice and then immediately begin foreclosing on it. It's a big task to do a foreclosure proceeding, so you'll probably need the assistance of an attorney and all in you'll spend $10K or so by the end.
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