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You can file for chapter 7 bankruptcy if your income-related resources are minimum, a significant portion of the debt is unsecured, and it doesn’t seem possible to pay back the loan. Chapter 7 bankruptcy is also known as liquidation bankruptcy. That means the court will dissolve your assets to pay back the loans. After dissolving … Continued

Selling a house as-is with mold The mold can grow anywhere. It can be inside your home, beneath the walls, or inside the attic. You can sense the presence of mold by its smell. Water damage is probably the most common reason for mold growth. Usually, mold starts developing 24 hours after the environment becomes … Continued

A reverse mortgage, Home Equity Loan or the Equity Line of Credit allow you to cash in the equity in your home. You can use the capital to pay for medical expenses, unexpected costs or for day to day expenses. The reverse mortgage is specially reserved for people aged 62. Usually, consumers approaching retirement consider … Continued

Turning a distressed property into a beautiful home improves housing communities. When an abandoned or deteriorated homes keep sitting on the neighborhood, it reduces the selling price of nearby homes. However, when the same home gets put on the market with a new makeover, new systems, and modern facilities; it creates an increase in price … Continued

The area, neighborhood and existing condition of the property will dictate if you should approach your next project as a flip–clean the property, make needed cosmetic repairs, refresh the appearance and put the home back on the market OR do a full rehab—replacing the infrastructure of the house such as furnace, boiler, plumbing, electrical panel and electric … Continued

When planning a rehab project, most investors think about the profit margin but most never give any serious thought to the downside. What is your exit strategy? How do you manage to sell a property that is sitting on the market for weeks? What happens, when you suddenly realize that a house requires more work … Continued

Flipping, renovating and remodeling… these three terms are often used interchangeably although each process is significantly different. Prospective buyers should be aware of the differences, especially when buying an old home that was renovated. If you are buying an old house that looks like it had been renovated, you should inspect the home in detail. … Continued

It is called ‘dying intestate’ when a person leaves the physical world without a will. In the presence of a valid will, you can distribute the leftover estate as per the desire of the deceased person. However, what happens when there are no guidelines? You do not know how the deceased person wanted to distribute … Continued

Selling a vacant house is difficult for two reasons. First, the customers question why your home is unoccupied. Second, people are interested in purchasing a lifestyle. They are not looking for an empty house! When looking for a new house, most people will directly skip the vacant homes. Pictures of an empty home are not … Continued