My grandmother bought the home we lived in the 90s for 90k at a 8% interest rate. I found out she refinanced the house several times from what seems like predatory practices and malicious advice and now owes 250k at 6%. Basically the house I thought was paid off now has 30 mortgage and she is 90. Her grandkids are in the will to inherent the house but do we inherent this mortgage?
Is there any evidence the money was used inappropriately or stolen? How was she paying her living expenses? How confident are you that she shouldn’t have needed the cash just to live?
Discussing this with my siblings I don’t know why she would need money to live when we lived with her and people are paying her rent. Her kids and grand kids have degrees. Going to a bank for money and not just asking us more seems like madness. However, she does take frequent trips to the old country that she claimed was being paid for by her siblings. she maybe have more skeletons than we thought.