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Lenders choosing foreclosure over short sales?

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    Bob Massi answers your real estate questions

  • Duration 3:52
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With so much uncertainty in the market more and more Americans are nervous about the future their homes and their families homes.

That's why we bring in real estate guru Bob Massi Fox News legal.

To answer your -- morning.

Bob good morning thanks for joining us live from Las Vegas let's get to the question did you get hundreds of them first Betsy can -- York Pennsylvania she's it.

Bob my son recently made an offer on a short sale Illinois his attorney called -- said the house is going to foreclosure in the next few weeks.

Why would the lenders not taken offer as opposed to foreclosure from Betsy what do you say.

I'm using a nice word they're idiots that's why because.

Bottom line here is honest honestly you know you're not you -- I as lawyers litigators I will tell you.

-- the last four years of my life I have never dealt with people.

They have lost the sense that Americans.

Live in a home and all they want is a sense of understanding.

I talked to guide here's what he said he said it would offer is going on short -- -- -- viewers understand that's what it offers made.

For less than what's -- they do an evaluation Peter yet and they determine what is the best number.

And if they're not satisfied with that number on the short sell.

-- the lender would rather turned on the cash for close on the property and literally sell it for less -- happens.

All over the country in the markets.

That are affected Las Vegas Florida Michigan Texas Arizona California it's crazy.

But it happens and it's just the way these people deal with that and that's why had the contempt that I have -- -- -- civilians.

-- it hurts people and hopefully they're watching you this morning because they'll look a lot now Christopher from Maryland writes it -- Bob.

My mother passed away in the -- she didn't leave the house to anyone this happens more than we think.

Do we have -- rights to that house even though she didn't leave it.

Yeah -- was certainly I mean assuming that they are the primary -- as you know.

It need to go see the state attorney that could look at this but by chance exactly what's going to happen.

Is under the laws what you call contest states -- if you die without -- will you will be the air you will be able to inherit.

But it's most likely gonna have to be probate because there wasn't apparently living trust nor was the -- handle.

Make sure if a will was done go to the -- they're prepared that will appear shoes is still practicing -- otherwise go to an estate lawyer and they'll handle for you that yes you should be able to inherit that house.

Okay good final question or less than now -- year just -- mile Florida writes I have only one child.

And one accident my house which is underwater but they own it free and clear -- what I need to -- that they trust.

Or will.

To leave to my child what do you say Bob.

Not not necessarily the one thing I don't encourage you to do is never put your child's name on the house for purposes of making sure that upon your -- that goes to he -- she what you need to do is a lot of states Peter have what's called a -- effective upon death almost like a life insurance policy.

You put the name of the person that you wanted to go to on that indeed it's not an ownership right but upon the death of that person automatically goes I get.

Check -- -- -- lawyers see if you're law if your state has it.

They do make exception to this area I'm sure there's a law that will make it easy and not have to go to the expense -- -- trust.

Not -- great advice indeed and I got a question and I'm -- call -- with it -- -- -- If you MI we're glad it's a lot of -- you can email him at friends at foxnews.com.

Questions Bob always great to see -- we're gonna see you next week.

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