Are there penalties for not filing for a probate for over 3 years?

Question Details:

I never got around to settling my wife's estate after she passed in 04/07. I'm trying to re-finance my mortgage, which is still in both our names, to reduce monthly payment. The house doesn't have much equity and we don't have much available cash. Are there any penalties for waiting so long?Will I be able to settle her estate in probate myself?

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