Safest way to transfer a home please advise

[Administrator]

The story is a bit long but I will give you the short version. My Grandfather bought a home for my mother before he died. He paid for it in full so the home was free of any debts, mortgages, etc. This is in the state of Florida.In 2003 my grandfather dies and leaves a bunch of credit card debts to my grandmother. My grandmother and one of her sons decide that my grandmother should ask my mother to put my mother's debt free home on her name so that she can take out a $100,000 and pay off my grandfather's credit card bills!!! My grandmother tells my mother not to say anything to me or my brother (we would have never allowed this) She promises that she will pay the loan off and that the remaining balance on the mortgage will be paid off with her life insurance the day she dies and that the house would be put on my mother's name again. So my mother signed away our home for $10 dollars. In 2005 I find out and there is nothing I could do since it was all said and done. Fast forward to 2008 and my grandmother is sorry to inform us that she has lost all her money in the stock market and cannot continue to make the payments on the mortgage of the home we live in, nor can she continue to pay for the life insurance, so now the children must pay it monthly between all 5 of them, otherwise the policy will expire and noone will get a penny...(therefor the mortgage on this home won't be paid either) I have been paying all the expenses on this home. Taxes, insurance, hoa, etc, for quite a few years. My husband and I are both still in school, and have many loans of our own (husband is in law school)They now want me to take over the mortgage payments on a loan I had no say in! money I did NOT spend!! and put the house on my name, but what is the safest way of doing this? I don't have much of a choice since this is the house we live in with my daughter and we take care of my mom also. I cannot let the bank take the house I do not want anyone else to have absolutely any rights on this house. when the time comes and my grandmother's estate is being mauled by her money hungry children I do not want them to have anything to do with my home. Please advise what is the safest way to do this.Thank you for reading!


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(Source: mortgagefit.com)