USDA Recapture Lein - Carry through Probate to Heirs

[reilauj]

What is the name of your state (only U.S. law)? nj

Where can I find more info about carrying the lien through probate and into the heir's hands?

We purchased a USDA home for 45,000 in early 70s (When Interest was 14%). Paid for 33 yrs and 160,000 lien has been deferred (house is only worth about 80,000.). Due to divorce, our grown daughter now lives with us with her 3 young children. How can we assure they wont be kicked into the street once were gone? We understand it cant be sold but don't want to see her on the street. Please advise how we could set this up or do you know of any attorneys that could advise us in the Southern New Jersey area.

 

[Silverplum]

What is the name of your state (only U.S. law)? nj

Where can I find more info about carrying the lien through probate and into the heir's hands?

We purchased a USDA home for 45,000 in early 70s (When Interest was 14%). Paid for 33 yrs and 160,000 lien has been deferred (house is only worth about 80,000.). Due to divorce, our grown daughter now lives with us with her 3 young children. How can we assure they wont be kicked into the street once were gone? We understand it cant be sold but don't want to see her on the street. Please advise how we could set this up or do you know of any attorneys that could advise us in the Southern New Jersey area.

We don't provide referrals here. You could contact your state's Bar Association for a referral.

See here: http://rdhomeloans.usda.gov/payoff.html

 

[FlyingRon]

Most of the USDA loans are assumable by hour spouse or children on your death, even if they would not have qualified for the loan to begin with. You should check the rules for the specific loan you're talking about.