Posted by John Merchant on May 14, 2007 at 08:49:57:
Kenny, not criticizing at all* but your spelling is such that I’m thinking English is not your native language and you could use some local help.
Suggest you find a friendly local lawyer you can talk to and get his/her advice on these things.
You’ve got at least 2 legal things you need to talk over with that lawyer: Your inheritance from your Mom and what you need to do to get that done right…and your divorce and how it’s going to affect your property rights.
Good luck and I congratulate you for being savvy enough to know real estate is the place to be working and investing for future wealth.
*Although I know a good bit of several other languages, I’d sure botch it if I tried to do much writing in any one of them without that language dictionary and textbook in front of me.
inheirted propertyand eqwuoty loan - Posted by Kenny
Posted by Kenny on May 11, 2007 at 17:04:34:
I was inheited 4 prperties 3 has mortgages and one does not . I’m paying the mortgages on the 3 with mortgages because they are all rented out one I currently live in. Can I get a equity loan on one that has a mortgage on it would the bank call the mortgages due since I did not let them know my mother decesed and left me the properties. All the prop[ewrties have been recorded to me at the recorders office downtown. Shoukd I be concerned at all just trying to put my investing cvareer in gear at this point. I like to use some of the equity in some of the properties to buy another. I’m going through a divorce. Someone told me that in order for me to get a loan my x to be will have to sign off on it. Is that true or can I do this without her? I live in Ohio; and if I did will she have any rights at all to the newly purchased [property. Should I wait until divorce is finsl before I do anything. If I wait a good deal could pass me buy. Thanks for advise in advance,