[Fredslist] client question for mortgage people

[Ester Horowitz]

I have a client that owns a PH in Manhattan, and inherited 50% of a house in
Watertown CT under a quit claim deed.  Her Mother owns the other 50% of the
CT house.

She is in need of money and thinking of obtaining a home equity.  The
Manhattan PH has $160K mgt.  The other I'm not sure,  but both homes are
valued at $800K

Due to a severe ID Theft and fraud problem her credit has been compromised.

 

She is looking to accomplish obtaining a line for $40-$100K

Taking over the CT house

 

Right now the Mom wants her to give up her share for $25K and I told her she
was out of her mind.  She needs to know what her rights are to that.

There is an attorney involved but we are looking to discover what her
options are to eliminate the attorney fee to find this out

 

Warmest Regards

Ester Horowitz

516 318-8655

 

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