What are my options? My father died and I can not sell his house in WO due to remediation that now has to be done after removing an oil tank -pricey

Asked by Confused, West Orange, NJ Mon Feb 6, 2012

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Debra (Debbi…, Agent, Livingston, NJ
Mon Feb 6, 2012
I am surprised you can't get any relief via state programs.......I do understand that the companies can't give a definitive price quote until they see the extent of the spillage...........my manager went through the same thing when she sold her parent's home.
Fortunately, the final amount wasn't as bad as what was initially feared.

I am going to ask around my office, and see if anyone has grappled with this kind of problem ..........I'll get back to you...if you want, send me an email so I can send you any information I gather.

I am really sorry - this is a terrible situation for you to face.
I'll try to help.....
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Confused, Home Owner, West Orange, NJ
Mon Feb 6, 2012
Thank you Debbie.I actually tried finding different ways to pay. The 2 programs NJ offers I was not eligible for based on the criteria. The company I hired initially to remove the tank would not work with me as far as payment plans for the remediation portion. The second company was the same plus non of them could really give a true estimate to the cost. The range was anywhere from 10k-100k. The home has equity but the difficulty in the paperwork of an "estate of" home loan----gives me a headache already. I am still paying for the cost of probating his will.
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Debra (Debbi…, Agent, Livingston, NJ
Mon Feb 6, 2012
Hi Confused

I am very sorry for your loss......and I am sure it is compounded by having to deal with the problem regarding the oil tank removal.
I will assume the oil tank leaked, leaving you with a mess to clean up, and I know how costly it can be.

The first question I have is.............Is there equity in the home?
If there is, you might be able to borrow against that to pay for the remediation.
Maybe the oil tank removal company will work with you with a pay off schedule.....have you asked?

The obvious key is whether there is enough equity in the house to pay for the remediation in full.

I'd be happy to talk with you privately to see if we can come up with a solution to your problem.
Please feel free to call or email me at your convenience.

Debbie Rose
Prudential NJ Properties

email: Debbie.Rose@PrudentialNewJersey.com
cell (973) 715-3131
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