SB wants to move back into a NEHTrust

[spunky]

My SB may want to move back in if she gets a divorce. House is vacant, rent was $850, she is holding 10% interest in a NEHTrust until it sells, then forfeits so I would get 50% and a RB would get 50% when RB buys.. SB also pays a 2nd lender-$140/m0 Please tell me my options.
These are s my thoughts I can tell Thomas to sell to her at FMV. Does she pay only 90%. If I let her stay, what happens if she defaults to EHS. Can I evict her from her own house?
Should I gather all my repair papers, holding cost and other payments for the house, sum and just ask her to reimburse and then tear up the trust? What should I do?

[Scott_L._Moyes]

Your SB will now be both SB and RB. Have her sign a new Possessory Agreement and make all the payments. Change the percentage to 50/50 and allow her to refinance later, like an RB would normally, and pay you off.

As the RB she will be treated like any other RB and can be evicted but may still remain "a" beneficiary of the trust and may be due proceeds later.

If she gets a divorce, how is her husband tied in to the deal. Is he also currently a beneficiary? That could muck things up unless he is willing to remain a beneficiary or relinquish his interest to her.

And sure, you can ask her to "buy out" your interest in the trust (and reimburse you) and she can just have her house back with a trust in place.

Bill, Thomas or Myself can walk you through whatever you need to have done. Just let us know.
_________________
Scott L. Moyes
NARS National Training Director
Scott@LandTrust.net
www.LoanModsSuck.com
www.NoNoteNoMortgage.com
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"Education Is The Foundation On Which Your Financial House Will Be Built"