Life insurance a mortgage lifeline

Q: I co-owned a home with my mother, who passed away about seven years ago. She had put my name on title before she died, but didn't really tell me anything about the mortgage situation except that I needed to pay the bank X number of dollars per month. I didn't realize that the mortgage would adjust. It did adjust, though, and the payment increased -- and around the same time, I lost my job.

A friend connected me with a hard-money lender, who bailed me out of that really bad loan for a year until I was able to refinance it with a regular mortgage lender. He also gave me about $50,000 I used to fix up the place.

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