I think you said the mortgage/taxes are $1,500 a month. Since the house is 50% yours, you should be paying half of that. But, since your brother is living there and you aren't, he should be paying you rent. So, if $1,000 (just picking a number) is a fair rent, then you should probably be paying $250 a month ($1,500 - 50% x $1,000). I guess your Mom living there complicates things, though, since half of her rent should probably go to you. But, depending on the numbers, it isn't outrageous for you to be paying something every month, despite not living there.
If you want to live there long-term, but not short-term, then maybe your brother and Mom living in the house for the next couple of years would actually be good for you. Can he just continue to pay on the existing mortgage indefinitely, or will there be consequences if the bank finds him out?
I guess you also don't want him talking your Mom into cosigning a mortgage, and potentially ruining her credit.
I guess the other thing to think about is how likely it is that you could ruin your relationship with your brother over this. Whatever happens, you don't want to do that.
True. That's kind of why I have contributed.
Consequences if the bank finds out. According to our lawyer, the bank will then send notices to creditors, and they come out from all over the place. They can take their debt out of the estate. Once it's refinanced in one of our names, or sold, they can't. Because it's officially not my dad's anymore.
Basically, our lawyer said he's not worried about my dad's credit anymore. So if creditors from hospital bills and who knows where call the house, it's "he's not here", hang up.
Don't understand it all. Sounds shady. But that's what we were told to do. The big one is a $33,000 medivac ride he needed to get from Carroll County to University very quickly. Insurance looks to cover only $2,500. So our Lawyer is most worried about them coming after the house to get their $30k.
I guess he can get them to take a significantly, much lower amount if Its just my brother and I footed with the bill. Maybe he negotiates with the insurance company to cover more. Maybe the creditor settles instead of going to court. But if they can get $30K from the estate, they will go after and easily get all of it.