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Renting & Real Estate | Yahoo Answers



What do you do when someone dies and leaves you an estate you can't afford to maintain?

My mom had life insurance, but only enough to cover her burial. I am now stuck with her farm which was appraised at 470.000, even though much of the place is literally falling down (it was built in 1856)---I would need to invest at least 20,000 to repair the place enough to bring it up to code, and even if I did... show more



My mom had life insurance, but only enough to cover her burial. I am now stuck with her farm which was appraised at 470.000, even though much of the place is literally falling down (it was built in 1856)---I would need to invest at least 20,000 to repair the place enough to bring it up to code, and even if I did that, I don't think I'd be able to find a buyer due to the fact that the property taxes were 14,000 last year. I own a small house, totally paid for, taxes/etc. I'm 800.00 per month. I have a master's in teaching English & have been applying for positions for months, no success, and no one will hire me for a minimum $ job because I'm so overqualified. I'm 54. Do you think the mortgage bank would just...take my mom's house to save me from having to pay for it? The mortgage is 2000.00 per month, utilities 200.00, + 1166.00 for escrow...I'm already on food stamps! What should I do?



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