My parents passed away 10 years ago. They were very sweet but not very financially or legal savvy. They had multiple mortgages on the house and even a reverse mortgage. When they passed (with no will of course) the mortgage payments were $800 per month and I was not in the right place financially or emotionally to take it over. Fast forward 10 years the sheriff knocks on my door and I discover I have an opportunity to gain control of the house for 4K taxes. I have 4K right now and could snatch it up, but the County says paying the taxes does not equate ownership. Also, I am not sure if I did acquire ownership if I would be in debt for the past mortgage. The county says all the mortgages have been "released," but they have given me misinformation before. They are also saying the "deed" is in my parents name but I need the title and would need to do a title search. Is the title and the deed different? would I be liable for the past mortgage? I would love to snatch this up and make it my first rehab property but I am wildly confused. Thanks for listening. This is in Clinton County Illinois BTW.
