mikedeals
11-30-2006, 10:02 PM
My parents bought a house in Las Vegas 15 years ago and both have been deceased for over 12 years..... My brother was a Jr. and continued to pay the mortgage without notifying the mortgage company that my parents were dead.... When my parents were both dead we divided their estate according to their wishes- 1/3 to my brother, 1/3 to me and 1/6 to each of our natural daughters.... My brother continued to live in the house and made the payments on it.... Recently my brother has had a problem with alcohol and gambling and is many months in arrears on the house....
I feel that the house will be foreclosed on soon and he owes $70,000 on the mortgage and a similar house in his neighborhood recently sold for $240,000.....
I want to know if our daughters and I have any remedy or will we lose our equity if he goes to foreclosure....
Please advise me, Mike S
I feel that the house will be foreclosed on soon and he owes $70,000 on the mortgage and a similar house in his neighborhood recently sold for $240,000.....
I want to know if our daughters and I have any remedy or will we lose our equity if he goes to foreclosure....
Please advise me, Mike S