First off, sorry to hear of the death in your family.
Quote:
Originally Posted by BK911
House is not paid off and she still owes about what they paid for it.
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So if I understand this correctly the mortgage balance and the likely selling price of the home (aka LTV) are close to 1:1, right?
Quote:
Originally Posted by BK911
We could sell it, but with real estate fees, closing, plus the ~$10k in closing she just paid, she would most likely take a loss on it.
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The 10k already paid in closing is sunk cost fallacy.
This might not be a popular answer but why not consider mailing the keys to the mortgage holder and washing your collective hands?
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Grant
In the stable: 1938 Buick Special model 41, 1963 Solex 2200, 1973 Vespa Primavera 125, 1974 Vespa Rally 200, 1986 VW Vanagon Syncro Westfalia, 1989 VW Doka Tristar, 1995 Toyota Land Cruiser, 2011 Pursuit 315 OS, 2022 Tesla Y
Gone but not forgotten: 1973 VW Beetle, 1989 Porsche 944, 2008 R56 Mini Cooper S
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