07/10/2025
Mortgage companies have become very unforgiving of late. Foreclosure is their new favorite word. Unfortunately, when your family members die, and you become the administrator of the estate, it is YOUR job to keep control of the assets of that estate, and that means paying the mortgage. Understandably, most of us simply cannot afford to pay a second mortgage we weren't even expecting to have. So your two best skills are action and communication. Action: get that probate started NOW. Get your Letters of Administration so you can communicate with the mortgage lender and let them know what is going on, and what you plan to do with the property. Communicate: Keep the lender informed every step of the way. If they know you are selling and making efforts, they might just give you extra time. If you don't do either of these, they will sell the home at an auction, and you will definitely lose a large share of your inheritance this way.
We are seeing this in our practice almost every day. We have a white board with no less than 20 foreclosures we are helping to prevent at all times. But, we are the oddity. Most probate lawyers do not help prevent foreclosures, after all, it's not part of the probate process. They expect you to have taken responsibility. Our firm happens to go the extra mile to help you out, so if you find yourself in the position of being in a foreclosure, we might be able to help you. Keep in mind though, we CANNOT stop them all. Every case is different, and every mortgage lender is different. And sadly, the bottom line is that if action was taken early, whether by paying the mortgage, starting a probate, and communicating, this might never have been an issue. Being a probate administrator is not an easy job, but we are here to help you through it. www.kayserlawgroup.com