Real Estate Questions Concerning Child's Rights

[John Ballard]

I am trying to help out a close friend that was placed in a very unfortunate situation. Her ex/father of her child passed away and the estate went to the son. She has a probate for her son, but doesn't want to keep the house because of the bad memories for the son. She plans to let them foreclose on the house. Her current husband and I understand her issue with the house, but know its a potential investment for her son in the long run. 

The house was appraised at $250k, he owed $200k, it has been almost a year since a mortgage payment was made. 

What other options might she have that doesn't require her to keep it, but could help her son out? 

We discussed the potential for me to buy it, possibly as a short sale. I am not sure how all of that works. I contacted a RE lawyer. However, I didn't get far there. I have a lot to learn. I recently purchased my own house using a VA loan.

[Andy Mirza]

@John Ballard First issue: is the son a minor? If so, he can't consent to anything, only his mother can.

Second, the only people that can do anything about the situation are heirs or their parents/guardians. If they don't want to strike a deal with you, then that's it.

Third, it might make sense as a deal to you but it's obviously a huge emotional issue for the mother. In my opinion, other than some extremely gentle persuasion tactics, I'd respect her decisions and leave her alone. On to the next deal.

She should respond to the foreclosure suit for her son's sake. If the there is equity, there's a chance that the property will sell to a third party bidder and that the estate would be entitled to any excess proceeds.