Inexpensive house repairs?
Question: Any charity or school that provides a service such as this should loose >its tax exempt status. It is not the role of a charity or school to >enhance the market value of an asset so that the owner of that asset can >obtain a larger profit from its sale. If she were to deed all or a >portion of the property to them so that they would profit it would be a >different situation.
>To even think of doing this is absurd.
Answer: Those are really two separate things.
If the home needs extensive repairs, then it needs them even if she planned to keep it.
If she wants to sell it, sell it as-is (for a lower price).
Does she owe more than the home is worth in its present condition? That’s actually a third problem, having borrowed too much. (That sort of thing is how people end up bankrupt.)
Why would she qualify for charitable programs, is she actually POOR or just has bad credit (not necessarily the same thing either). I don’t think a charity would look kindly on fixing someone’s house for free so that they could sell it for more $.
If she owes more than it is worth, she may need her attorney to talk to the bank about taking a short sale or she’ll walk. She already has bad credit from bankruptcy so she doesn’t have a lot else to lose.
-v.
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