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in Dire Straits-2

Don't bother reading "In Dire Straits" below. This is a shorter version. Both parents are deceased. The house is willed to me but my name is not on the deed. I guess that means I have to go through probate...about 5-thousand dollars,and up to a four-month process, right?I spoke to a woman at a local bank. She said I would qualify for $125,000 in reverse mortgage. But my name must go on the deed. My problem is I only have enough money to keep the house going for another 2-3 months (mortgage is paid). Any suggestions? Any way to avoid probate now? Any state programs for people in my situation in your state that may be such a thing in my state (Delaware). I will be OK if I can get past the next 4-6 months. I'm not trying give anyone a hard luck story...just wanted to tell all of my story so someone can make suggestions. In advance, thanks for responding.
By hottoddee672 from DE Jan 19th 2015

Enter a reply hereWant advice on buying a home, renting, default, foreclosure avoidance, credit issues or reverse mortgages? HUD sponsors housing counseling agencies throughout the country to provide free or low cost advice. Search online for a housing counseling agency near you, or call HUD's interactive voice system at: (800) 569-4287.

Jan 19th 2015

If the mortgage is paid the only thing that might go late is the re taxes and insurance. Being a few months late on those items is not the end of the world.Get yourself on the deed and do the reverse asap and you'll be fine.Consult an attorney re probate. There may be lower cost ways to get the will probated.

Jan 19th 2015

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