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I've had this many, many times.
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<div class="ContentPasted0">Three responses:</div>
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<div class="ContentPasted0">1. As suggested, report to the mortgage company and request some slack.</div>
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<div class="ContentPasted0">2. Race the mortgage company. Once the foreclosure starts, calculate the time required for the foreclosure process to competition. List, sell and close within the required time frame. Risk: liability if you guess wrong and cannot
close.</div>
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<div class="ContentPasted0">3. Borrow hard money. Risk: the heirs/ devisees may object to the high interest rates.</div>
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Bruce Moen<br>
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<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> on behalf of Inge Fordham <inge@fordhamlegal.com><br>
<b>Sent:</b> Thursday, October 5, 2023 11:27 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] selling mortgaged real property in a probate</font>
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<p class="x_MsoNormal"><span style="font-size:11.0pt">Every situation is different. I have assisted clients in similar situations where the estate has little (if any) cash to continue paying mortgage payments. I send a letter to the mortgage company informing
them of this fact, providing the status of selling the property, and tell them we will contact them when the house sells. Despite threats, I haven’t had a mortgage company commence foreclosure proceedings. The key (at least in the cases I’ve dealt with)
has communication – letting the mortgage company know of our efforts and ensuring them the debt will be paid.
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<p class="x_MsoNormal" style="margin-bottom:3.0pt"><b><span style="font-size:13.0pt; font-family:"Cambria",serif; color:#203864">Inge A. Fordham | Attorney</span></b><span style="font-size:12.0pt"></span></p>
<p class="x_MsoNormal" style="margin-bottom:3.0pt"><span style="font-size:12.0pt; font-family:"Cambria",serif; color:black">Fordham Law, PLLC</span><span style="font-size:12.0pt"></span></p>
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<p class="x_MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-size:12.0pt; color:black">From:
</span></b><span style="font-size:12.0pt; color:black">wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> on behalf of Sharon Rutberg <sharon@salmonbaylaw.com><br>
<b>Date: </b>Thursday, October 5, 2023 at 11:09 AM<br>
<b>To: </b>wsbapt@lists.wsbarppt.com <wsbapt@lists.wsbarppt.com><br>
<b>Subject: </b>[WSBAPT] selling mortgaged real property in a probate</span></p>
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<p class="x_MsoNormal"><span style="font-size:11.0pt">Hi, folks –</span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt"> </span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt">We have a probate where the main asset is a piece of real property. The will directs that it be sold, and the PR is in the process of doing that. The property has two mortgages on it, but when it is sold
there will be ample assets to pay those off and have some assets left for the beneficiaries. There is very little cash in the estate, so we have not attempted to make the monthly mortgage payments.
</span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt"> </span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt">It took a while to get to market because a lot of clean up and an eviction were needed first. We have been subjected to a barrage of letters from Select Portfolio Servicing, demanding mortgage payments and
threatening foreclosure. They seem immune to our multiple requests to hold off on these demands and threats while we have a reasonable to sell the property and pay off the loans.
</span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt"> </span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt">Anyone out there have any advice about how to deal with this? Should we spend our scarce cash to bring the payments up to date? Is foreclosure really likely to happen anytime soon?</span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt"> </span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt">Many thanks,</span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt">Sharon </span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt"> </span></p>
<p class="x_MsoNormal"><span style="font-size:9.0pt; font-family:"Verdana",sans-serif; color:black">Sharon Rutberg, Attorney at Law</span><span style="font-size:11.0pt"></span></p>
<p class="x_MsoNormal"><span style="font-size:9.0pt; font-family:"Verdana",sans-serif; color:black">Salmon Bay Law Group, PLLC</span><span style="font-size:11.0pt"></span></p>
<p class="x_MsoNormal"><span style="font-size:9.0pt; font-family:"Verdana",sans-serif; color:black">1734 NW Market St.</span><span style="font-size:11.0pt"></span></p>
<p class="x_MsoNormal"><span style="font-size:9.0pt; font-family:"Verdana",sans-serif; color:black">Seattle, WA 98107</span><span style="font-size:11.0pt"></span></p>
<p class="x_MsoNormal"><span style="font-size:9.0pt; font-family:"Verdana",sans-serif; color:black">206-735-3177, ext. 1</span><span style="font-size:11.0pt"></span></p>
<p class="x_MsoNormal"><span style="font-size:11.0pt; color:black"><a href="mailto:sharon@salmonbaylaw.com"><span style="font-size:9.0pt; font-family:"Verdana",sans-serif">sharon@salmonbaylaw.com</span></a></span><span style="font-size:9.0pt; font-family:"Verdana",sans-serif; color:black">
</span><span style="font-size:11.0pt"></span></p>
<p class="x_MsoNormal"><span style="font-size:9.0pt; font-family:"Verdana",sans-serif; color:black">Website:
<a href="http://www.salmonbaylaw.com/">www.salmonbaylaw.com</a></span><span style="font-size:11.0pt"></span></p>
<p class="x_MsoNormal"><span style="font-size:9.0pt; font-family:"Verdana",sans-serif; color:black">Washington State Bar #47055<br>
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