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Updated over 7 years ago,

User Stats

6
Posts
3
Votes
Stacy Montes
  • Real Estate Investor
  • San Jose, CA
3
Votes |
6
Posts

Inherited mom's house and her debt too. What should I do?

Stacy Montes
  • Real Estate Investor
  • San Jose, CA
Posted

My mom died last month leaving behind a home and a huge burden of debt. I'm emotionally attached to the house and I don't want to sell it. Being a single mom, I don't have enough to pay off her debt. What is the best thing that I can do? The family house is a duplex. Will it be a good idea to sell a part of it and get rid of some portion of debt? Later, I can probably look for ways like negotiation or consolidation and pay off what remains. Another idea that is coming to my mind is to rent out the floors to two tenants. Too stirred up emotionally to take the right decision after losing my pillar of support. 

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