All Forum Posts by: Anissa Pearson

Hello Rudy, 

I understand your concerns in terms of deed but there’s particular concerns in terms of financial issues, health, credit, etc that play a huge factor in including that option. My dad is very ill and my mom has little to no income. I currently modified the loan maybe two years ago and they were upside down, so if any equity (very little). The reality is that they have about another 25 years before the loan would be paid off and are currently struggling just to make the mortgage payments (less any other monthly obligations). I have 4 other siblings, which we are all trying to figure out the best possible solution to save the house so they can (at the very least) have shelter. But it’s deteriorating and they have no financial mean so to make them necessary repairs. We are close and with that option, the house will stay in the family, get repaired & guarantee a place for them to live.

Hello,

I am a new investor looking to gain knowledge to create passive income in multi-family units.  I live in the Los Angeles area.

Hello,

I am new to real estate investing.  However, my elderly parents are in desperate need of saving their property.  I know there's a way that I can help but need some help.  Here's the issue: (1) the house needs repairs, plumbing, roof, electrical and major reconstruction.  (2) my parents are on fixed income and would not qualify to refinance property. What is the best solution to upgrade the property without my parents having to sell before things become a safety issue?  Can they deed it over to another family member and that family member can refinance the house to do the repairs?  What are the legal risk in terms of someone else assuming the loan?