Dear Ms. Allison: I inherited my grandmother’s house. Is there a way to get it back after foreclosure? My 3 kids and I lived with her in my childhood home since 2009. Before she passed we had gotten a loan modification. She got sick and died. I missed one payment during this time. They immediately cancelled it, the home was sold in a sheriff’s sale and foreclosed. Fannie Mae approved me for a rent back program. However, I’m on a month-to-month lease and have to agree to let them sell. I don’t want that. My disabled son and I were left this house in grandmother’s Will. Isn’t there something we can do or some government program to help us — especially with him being disabled? He has cerebral palsy and is 19. We’re both on Social Security and after rent and bills, we have nothing left every month. We appreciate your advice. MB, Central Oklahoma
I am so very sorry for this sad state of affairs. The only way you are likely to get the home back is to buy it back. I realize this is probably beyond your financial capability. However, as you know, houses require a lot of maintenance, taxes and insurance, especially when they are older. You may need to consider if it is time for you to downsize anyway.
The only thing I can think of is to go to all the social service agencies you can. Also, consider asking family to buy it and allow you to stay or setting up a Go Fund Me site to buy back the house. Often, people are good and will try to help.
To your success, Gale Allison
*Originally published in the Gale Allison, PLLC website Asked & Answered blog based on questions from the public. Gale Allison handles estate matters only: Probate, Estate or Trust Administration; Estate Litigation; Estate Planning; Business Succession Planning; and Estate-related Tax Issues at Schaffer Herring, PLLC, in Tulsa, OK. She also mediates Business, Divorce, Estate and Elder Care disputes nationally, exclusively through Dispute Resolution Consultants (DRC-OK).