Can i take over a deceased parents house that’s foreclosed?

If the foreclosure has been filed, you can TRY to contact the mortgage company and see how much they will accept to make the house note current. You may end up having to pay all the missed payments plus any penalties, interest and fees. That could add up to quite a bit. Once that's done, it will STILL be in your mother's name, not yours. If you can bring the note current, then she can "give you" the house by signing what's called a "quit claim" deed. The  mortgage company will probably have to approve this move--but if it means they'll get their money, they might indeed do that. Your mother can't quit-claim property that is in foreclosure. 


Mortgage companies don't want to foreclose--they really don't. It's a long process and then they're stuck with property they have to sell or liquidate, often below market value. So call them and speak to someone right away--the longer you wait the more difficult it will be to handle. If they allow you to bring the note current, they will THEN look into actually transferring the title to the property into your name. The quit-claim deed only shows your mother's willingness to allow you the control over paying for the property. You will still have to be approved for a mortgage--with whatever qualifications they require. 

Note that by qualifying for a mortgage I mean you will also be required to get the home appraised, inspected and if need be, repaired to meet their standards for lending. Be prepared to spend some cash with this process. . 

You ask the bank what they are selling it for, make an offer, get a mortgage and purchase it

Probate your mother's estate and pay off the lender.  

You can't take it over, you will need a mortgage to buy it and clear the debts.

You can get a mortgage and buy it.

You can't take it over.  There's no option for that.  The lender will have it scheduled for auction.  Usually, they choose a date anywhere from about 3 - 10 months ahead.  Find out the date they plan to auction off the house and be there to bid.  You can bid online if you pay for the subscription service.

Inform the lender that you are a “Successor in Interest” and want to assume the mortgage. 

Contact the mortgage company.

You can't just "take over".... the bank now owns it & they will sell it once all the paper work is done.

if it hasn't gone thru the foreclosure process, then simply send the bank a check for the money still owed.  I would include a note saying that your parents have passed away, but you are paying the mortgage out of their estate (even if that isn't totally true), will be selling the hosue once the estate is settled (even if that also isn't true) and to please send you a bill with any late fee's still owed.

I'm not saying you should pay this, as there is some risk, depending on the situation (did your parents leave all their assets to you? is the mortage balance less than the house vlaue in its current condition?) but thsi should get the mortgage going and stop the foreclosure, no problem.

If it's in foreclosure, it probably has to be sold at a public auction.

Probate her estate.

You have to make a deal with the lender. Its not a "takeover payments" kind of thing. 4 months ago your score was 500. You won't be getting a loan.

If the balance is $27,874.27, you can pay that in full.