My grandmother bought the home we lived in the 90s for 90k at a 8% interest rate. I found out she refinanced the house several times from what seems like predatory practices and malicious advice and now owes 250k at 6%. Basically the house I thought was paid off now has 30 mortgage and she is 90. Her grandkids are in the will to inherent the house but do we inherent this mortgage?
She couldn’t like sell us the house for less than it’s owed? And she takes a loss?
She’d have to pay the remaining balance before the bank will release the lien.
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Ok appreciate the information.