Your House is a Money Pit – Now What?
Peeling back the paint and discovering that your house has many, many, many more issues than you bargained for can be a real shock. What do you do when your dream home turns into your own personal nightmare? Is a so-called “money pit” worth fixing? Or is it better to throw in the towel?
Sophia Zaromitidis, Vice President and Lending Leader with First Merchants Bank (NMLS: 1166087), says there can be a light at the end of the tunnel for blindsided homeowners.
First, take a moment to process your discovery – whether it’s a cracked foundation, plumbing and electrical replacement, or a sagging ceiling. Try to focus on remaining calm, and, most importantly, don’t give up hope just yet.