[WSBAPT] HELP!

[Diane J. Kiepe]

Hello Team Listserv,

I have a couple who died within 1 month of each other, no children, charity beneficiary says they don’t want to take the home for facts that will be clear as you read.  The only asset is a home with a reverse mortgage (racking up interest every day) and folks living there without any color of title.  The market was hot and it appeared on the front end the tenants would work with us in getting out  - the market is now more soft and tenants are still there.  I asked the mortgage company to do a Deed in Lieu and they won’t because of the folks there.  I don’t think it appropriate for the PR to have to front any more costs to estate then have been fronted to date.

I had a valuation of the home done but the tenants are untidy, cats roam around etc.  At this point, the way reverse mortgages run, I am inclined to let the house go through foreclosure.  I also think now the estate is upside down because of creditor’s claims.  Trying to figure out what documents to file with the court going forward – any thoughts?  I’ve had insolvent estates before but they weren’t this messy (reverse mortgage/creditor).

I’m exhausted with this one ☹

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

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