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House refinanced 3x (reddthat.com)

submitted 1 month ago by Spacehooks@reddthat.com to c/personalfinance@lemmy.ml

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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?

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[–] Spacehooks@reddthat.com 2 points 1 month ago (1 children)

Though she didn't needed to do that. her daughter and adult grand kids live with her. I dk why she did this. We all have jobs. There wasn't a time she wasn't getting rent from multiple people.

[–] CmdrShepard@lemmy.one 5 points 1 month ago (1 children)

Do you know where the money went? Sounds like there's a couple hundred grand in cash floating around out there.

[–] Spacehooks@reddthat.com 1 points 1 month ago

I don't and while I want to grill her to find out my siblings don't want to push the issue. Like we are doing math and maybe we can account for 100k if she paid top dollar for anything. The rest we don't have a clue.