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Reply to "friends mom died, he is now executor of estate and cant afford the mortgage- whats next?"
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[quote=Anonymous]They start foreclosure pretty quickly on houses with equity. Those people that get to squat in their house for 2+ years without paying the mortgage are underwater - house is worth less than they owe. I'm guessing this is not the case here. My parents owe 90k on a 300k house (not in this area) and I bet the bank would be beating down their door if they stopped paying the mortgage.[/quote]
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