I just purchased a house 10/1 with an FHA loan. Now I need to sell it. What kind of penalties am I looking at?

FHA mortgages usually require only 3.5% down. If you list the property for sale with a real estate agent then you will have to pay a commission of...

Renting an home/estate while on the market and empty.

If the probate estate is being administred by "independent" administration, then the executor can rent out the home without court approval. You...

Who is to come up with the "short" funds should the house sell? What happens if we have to & don't have any funds to do so?

A short sale happens when the mortgage balance is higher than the sale price of the house. The mortgage company is "shorted" and does not get the...

Real Estate Contract Dispute

Once the stay of the order of possession expires, the order can be filed with the sheriff's office to begin a physical eviction. I would be very...

Trust Fund and Will

I can't tell from your question if you signed a will or a trust or both? I would be wary of any forms for a kit. There is much more to estate...

In illinois does an executor have to register with the state to legally handel all facets of the estate

Assuming that there is a will that names you as executor, you must petition the probate court and ask that the court appoint you as executor. So...

Condo parking is either a limited common element (but the owner has the exclusive right to use it) or deeded directly. I would say most are limited...

Can I avoid probate?

Assuming that the stock was in your Dad's own name, you can have an attorney prepare a small estate affidavit, which is used for property of less...

Is my 15 year old son responsible for his deceased fathers car loan

No he is not responsible for the loan. The lender will take the car back. No probate estate will be opened.

Parent dies with surviving spouse. Has no assets. boys are benificiary's to life insurance that paid furneral,what about debt?

Probate is only needed if there was real estate or an asset of $100k or more in the deceased's own name. It does not sound like a probate is...