Hello, I hope it is okay if I ask this question for a friend, you will have to forgive me, I do not know all of the details.
This is in KY if it matters, it looks like the person's mom died and left the house to them (not sure how long ago). They did not transfer the house out of the mom's name.
The mom had a home equity line that they were paying down after the mom died. Medical issues caused them to fall behind on payments.
They have until Feb 6th to answer the foreclosure notice, they owe 30k, they have bad credit, they don't have funds for legal help.
I have zero experience with the foreclosure process, does anyone know if there is a way to delay the process and maybe they can raise the funds for legal advice in the meantime?
Not sure how feasible this would be, If I was able to come up with the 30K, would it be possible to pay off the home equity loan and then become the lender? More in terms of the legal framework for the house as collateral and not just a personal loan (I know I might not be using the correct terms). Or would this just be too much trouble considering the house is not even in their name?
Thanks for any help