Karen Shrock-Jones

If the roof is the three-tab shingle that was most common 19 years ago, it's probably close to the end of its useful life. It also makes the house look dated. I live in a neighborhood built in the mid-1960's where most of the houses now have architectural shingles. The few that have 3-tab even if they are relatively new look outdated compared to the others.

Insurability is certainly an issue in the selling your home. Several years ago, companies started getting particular about roof condition for existing customers at renewal time. They don't want any trees along the roof line and they check for wear and damage. - Sat Nov 8 2008, 11:26

Talk with your realtor and lower the price to a point where it will sell.

Contact your mortgage company and ask them about options for "returning" the house. You should be able to voluntarily relinquish it rather than go through the process of foreclosure. There may also be an option for a short sale of the property. - Mon Oct 6 2008, 12:39

The only tax issueof which I am aware is in the tax exemption status of the property.

My husband went on permanent disability last year and we just applied for and received a substantial exemption of part of the value of our home from property taxes. If you will be living in the home as your primary residence, you can claim a homestead exemption. Your parents probably have this exemption. You'd have to apply for it when you assume control of the property.

If your parents are over 65 or one parent is disabled, they may have additional exemptions on the property which would lower the taxes. Unless you meet those qualifying standards, the property would no longer be eligible for those exemptions and your taxes will be higher.

The disability exemption will make a significant difference in our annual taxes. They will be about 1/3 less than they had been previously.

Check out the local county appraisal district where the property is located to see what the taxes and the exemption status are. - Tue Sep 30 2008, 08:05

Pay your bills on time. Keep away from any major credit purchases.

Consult with a mortgage loan officer to see where you stand and how you can improve your standing for the widest number of good financing options.

Figure out what you want in a house and where.

Find a realtor you feel comfortable with using to help guide you through the whole process. Some realtors like me especially enjoy working with first time buyers. There's a lot of education and Q & A involved with first timers. - Thu Sep 25 2008, 12:18

I agree. You need an attorney and a good realtor.

You say that you've inherited your mother's house. Is there a will and has it been probated? Until the estate has been probated, I believe that the owner is your mother's estate. Is there an executor of the estate or an administrator?

There are just so many questions that can't be dealt with except through lengthy discussion with the appropriate professionals. The attorney will handle settling the estate. A realtor will help with either selling or leasing the home.

I would recommend that you not worry yourself about protecting your small inheritance. An attorney should be able to weed out the tangible and material items your mother left behind and determine her indebtedness. The indebtedness may or may not transfer with the estate. For example, liability for repayment of my federal student loans does not transfer to my estate. If I were to die before they are repaid, my family will not have to pay them. I would be surprise it your mother's personal possessions would need to be liquidated to satisfy the mortgage company. But then again, if your mother had a fleet of vintage Rolls Royces, that may be a different matter.

Spend the money on an attorney and you'll end up saving money and grief in the long run. He or she would be the head of your team. The realtor would advise on the real estate issues and handle any issues related to sale, lease, or transfer of the real property. - Thu Sep 25 2008, 12:05