Hello, This is my situation,
1..11/08/08 my husband of 4 days died, we were married in the hospital. He felt things would be easier for me to deal with after his death if we were married
2..He owned a home, and a business. I am the sole beneficiary of his will. He had never been married before and he had no children.
3. The executor of his will had to be removed and I was named executrix/administrator 2 weeks ago, it took almost a year to probate his will and have me named as executrix.
4. He was behind in his mortgage before he got sick but was managing it.
5.Because of the delay in probating his will, due to issues with the executor, no mortgage payments had be made for 13 months and the home is due for foreclosure on the 19th of this month. 234,000.00 is owed, this figure includes, Lawyer fees, escrow fees, penalties, interest etc...183,000.00 is the principal. The home needs 60,000.00 worth of repairs. Comparable homes in the area have sold for 325,000.00 to 375,000.00 in the last 6 months.
6. I listed it with a real estate agent 10 days ago, three offers have been made, with the highest being 221,000.00, The offers have been submitted to the bank as well as my request for the banks consideration on canceling the foreclosure auction on the 19th as well as their consideration on a short sale if need be. I feel with a little more time the offers might hit the mark for the bank.
My questions are
1. Is it feasible that the bank would waive the interest fees, and all of the other fees that they are asking for that they did not actually incur. I understand that they would want to recoup their "Out of Pockets Expenses", but the penalty fees, interest fees and the others add up to approx. 33,000.00. And if so, how would I go about approaching the subject. Because of the will issues, there was no executor for almost a year. These "Non Out of Pocket Expenses" were out of my control, and are going to eat up any monies I might realized from the sale of the only asset from the estate.
3. The way things stand now, I stand to lose money due to attorney fees etc...., I was forced to close his business 2 months after his death, my participation in his business was my only income. I am now struggling to keep my own home out of foreclosure.
Thank you in advance for any input!!!!!
