This is what you call bridge financing to allow for the purchase of the new house. Unless your old house is selling or closing at a specific date, they will not fund the new house. In the meantime you would have 2 mortgages, 1 for the new property - with interest only payments (bridge) and one for the old - full P I. It is always prudent to sell first before buying as this creates additional cost. You can also rent one of the properties if you plan to keep it longer.

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My friend paid the payments, and the deed is in the friends name. so can the stepfather legally sell the house? the friends name is the only one on the deed, he signed it alone when his parents died.

no he could go to jail

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that depends on what her will says

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I have been living in my moms house, paying the mortgage (up-to-date) since she divorced my step-dad, decided she didn't want anymore responsibility & moved out. when i got the tax statement, i find she is 2 yrs behind. total with penalties & interest including this year is over $9k. what should i do? if i start paying it will be $1800 down and payments of $550 a month. the house is about 8 yrs old and valued at about $88k. the balance on the note is a little over $40k. in this market i don't think it will sell for more than $70k, if that. we have had no contact with my ex stepfather but i'm sure my mom will sign off. both of them have bad credit already, mine is not so good. is it worth paying $9k in back taxes? advice please? yes i realize that the taxes will come out of the sale. thanks for answering! the taxes are for county, city and school and all that good stuff. it would normally be a little over $2k a year combined. it that alot?

If your choice is selling yourself or letting it be sold by the city for back taxes, sell yourself, you'll get a better price. If your choice is to pay the taxes and live there or sell and live elsewhere, you're probably better off to pay the taxes. You'll still have $21,000 equity, probably more than you'll have if you try to sell in a hurry, and you can wait until the market improves before selling. Remember, even if you sell, you're looking at paying rent and/or another mortgage, better to stick with what you have. You can also look into refinancing the mortgage, and rolling in the value of the back taxes, which will reduce your monthly costs but increase overall cost (you'll be taking much longer to pay off that additional debt). No matter what you do, though, you need something from your mom about who owns what. Without it, you're paying off mom's debts but gaining NO legal rights. Without being judgmental, it sounds like an unstable family situation, and if something bad happens (like mom being sued for other debts), you could be kicked out with nothing to show for all your input. If you can't get mom to sign the place over to you, or partially given the current equity, you should walk away, and let her sell out. By the way, $9k taxes over 2 yrs on an $88k home? Wow, glad I don't live there.

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My mother passed september 8, 2006. per her will my stepfather is living out his days in her house. who knows how long this will be. the will appears to list him as the executor of the estate. where does this leave my brother and me as we will eventually have to settle this between ourselves. can my stepfather sell the house without consulting us? what rights do we have concerning my mother's will? we never received a formal reading of the will after her death. is there a time limit for this? i can't get hold of him by phone. i live in omaha, ne so i can't just hop in the car and make a quick trip. my brother lives in houston, tx but has a full life and is not too concerned with this matter. please advise in this matter. i have written the lawyer who filed the will but never heard back from him. there is the house, the land and other antiques and possesions inside to consider. thank you

A formal reading of the will is not a necessary factor to winding up an estate. If your stepfather is sole executor then you should be corresponding with him. If he had the estate probated then you should be able to get a copy of the will from probate court. Assuming the house was a matrimonial home then your stepfather has possessory rights to it until the time of his passing. You may also find that he inherited the house as heir-at-law or as named beneficiary. Your first step is to get a copy of the will. That should answer all your questions.

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Okay here is my long but short story. in 2003 my mother died and left me her house, my mom was married but my stepfather was in jail the whole time of the marriage he never stayed with us. the court made me administrator of the property until i pay my stepfather for community property because of california law he was married to my mother, i still have not paid the whole amount to him but i would like to sell the house now to pay him the money so i can move out without having a large debt. well i can't locate my stepfather and his attorney don't know where he is too, the number i have for his mom is disconnected and i wrote the house and my letter came back wrong address. me and my stepfather friendship ended on a sour note after my mothers death because he lied about everything and the court notice that. how can i solve this problem so i can sell my house, it's been now 4 years and i don't know where he is.

I can offer you one solution though it MIGHT sound tacky; it often works and it is quite legal; go to court and have him declared dead. There are steps you have to take to "officially" hunt for him. AFter you satisfy those, the court will grant you a deed and your problem is "solved." Am available to help

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Mom died and had no will. stepfather is surviving spouse and i have two siblings. he wants to sell the house and needs my signature. he is remarried and plans to move. will i be giving up any rights if i sign? she died 3 yrs ago and i haven`t heard anything from probate? i live in south carolina,so i have no clue whats going on and i know eventually i`ll have to retain a lawyer thanks for the advice

You need a lawyer now. In Texas if someone dies without a will the division of the estate is controlled by the laws of Intestate Succession. What that means is that the way the estate will be divided will be based on the Texas Probate Code. AGAIN consult an attorney experienced in probate, but I believe that under the Texas Probate Code, the surviving spouse receives a life estate in any real property and that the children of the deceased received the property as tenants in commons upon the death of the surviving spouse. I did not intentionally make it sound complicated, IT IS COMPLICATED. What all that basically means is the the surviving spouse (stepfather) owns the property as long as he is alive. He can sell what he owns, which is only the right to occupy the property until he dies. But, when he dies you and your siblings should receive the property. But in order to enforce that, you will need to see a probate lawyer soon. I believe you only have a limited time to resolve this matter upon your mom's death and it may be four years. But again, don't rely on all this. See a probate lawyer.

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I live in newbury, england. i've lived here for 2 years. before that i was in brisbane australia for 2 years with my dad and port douglas, australia for 4 years before that. i was born and raised in dunedin, nz, but my family home has since been sold and my mother and stepfather are living in a house i have never even been to. i don't know really know where to call home sometimes? has this happened to anyone else?

I'm the opposite - I was born in England and my parents emigrated to Australia when I was 6yo. As I grew up I clung to my Britishness probably just to be different! However when I completed university I went back to England to live for six years. Over that time I realised that it was a fantastic opportunity but as the saying goes 'home is where the heart is'. I moved back to Oz two years ago and am very happy =)

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I have three dogs at my mother's house and three at my dad's. i have a dog at my dad's that we'll have to sell unless i can take her back and forth between houses. how can i convince my mom and stepfather to agree to another dog in the house? p.s. i'm not sneaking in the dog.

THROW SOME D'S ON THAT BITCH