u/Few-Estate-4700

Hi everyone. We are a 30 & 37 yo couple. We’ve owned our home since early 2022. It’s a nice home, 4 bedrooms and 2.5bathrooms, a huge backyard that is fenced in, with a dog run fenced in separately, there’s garden beds all over around the outside of the property, it has 2 huge decks and then a screened in porch as well.

We wanted to have my parents assume the mortgage originally, because my husband got a job almost 2k miles away and when we moved we had less than a month (from hire date to moving) to be out of our home and to our new home state. The assumption was just the easiest for us at the time. Now, we’re a bit better off than we were and would love to sell it and make part of our equity back to put as a down payment for something in our new home state.

Our problem is, is that the basement is gutted (so there are only 3 bedrooms and 2 full baths ready to go), my parents have made the entire home a hoarders mess and they ripped the flooring up in the living room upstairs. In other words, our homes value went from 293k to 225k (with a 193k remaining on the mortgage) so we would walk away with literally nothing.

We’ve wanted to talk to a loan agent to see if we could qualify for using some equity to get the home fixed and ready to sell, but by the time I found all of this out it was after hours so I decided to try the online version of trying to receive the heloc and was rejected due to some past negative marks on our credit. (We struggled with we first moved so all debts (cc and otherwise) were put a bit to the side so we could worry about surviving) Every debt we have accumulated is either paid off or on a payment plan, being paid off. But, because of those we were denied the online version, which gives me little hope for when I actually get to speak to someone.

My question is, what are our best options here? We know if we fix it ourselves it would be worth the full 293k-295k. But we don’t know the best way of going about any of this. Thanks in advance.

Hi everyone. We are a 30 & 37 yo couple. We’ve owned our home since early 2022. It’s a nice home, 4 bedrooms and 2.5bathrooms, a huge backyard that is fenced in, with a dog run fenced in separately, there’s garden beds all over around the outside of the property, it has 2 huge decks and then a screened in porch as well.

We wanted to have my parents assume the mortgage originally, because when we moved it was kind of in a hurry. Now, we’re a bit better off than we were and would love to sell it and make part of our equity back to put as a down payment for something in our new home state.

Our problem is, is that the basement is gutted (so there are only 3 bedrooms and 2 full baths ready to go), my parents have made the entire home a hoarders mess and they ripped the flooring up in the living room upstairs. In other words, our homes value went from 293k to 225k (with a 193k remaining on the mortgage) so we would walk away with literally nothing.

We’ve wanted to talk to a loan agent to see if we could qualify for using some equity to get the home fixed and ready to sell, but by the time I found all of this out it was after hours so I decided to try the online version of trying to receive the heloc and was rejected due to some past negative marks on our credit. (We struggled with we first moved so all debts (cc and otherwise) were put a bit to the side so we could worry about surviving) Every debt we have accumulated is either paid off or on a payment plan, being paid off. But, because of those we were denied the online version, which gives me little hope for when I actually get to speak to someone.

My question is, what are our best options here? We know if we fix it ourselves it would be worth the full 293k-295k. But we don’t know the best way of going about any of this. Thanks in advance.