Old home, falling apart, no money to fix it now or in the future...do I have any opitons?
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|Thu, 07-07-2011 - 11:22pm|
I have posted questions about this before but not directly like this. We are in our starter home which we bought 25 years ago. Should be paid off, right? In fact we owe 10,000 more than we initially bought it for due to dh taking our second mortgages for several business failures. The last appraisal we had though (of course that was before the housing crash) still gave us about $60.000 equity. I have no idea where we are now but Im assuming based on the houses selling around here that we would be lucky to get $20,000 more than we owe.
There are major issues and severe cosmetic problems, leaking roof, heating and air system 28 years old, ceilings cracked because of leaks, probably mold and definitely mildew issues again because of a flood 10 years ago which left over a foot of water in our basement, as well as several leak in the foundation.. There is