This is an option you probably haven’t thought of that will save you from losing your home to foreclosure. By giving up exclusive rights to the use and comforts of your home for a few years and avoid foreclosure at the same time.
Get your hands on enough money to obtain a nice livable mobile home trailer and move it into your property, making sure to leave 10 feet of space behind all property lines. Another option is to turn your home into a boarding house, renting out rooms by the month or longer. If you get yourself into the job of providing them meals make sure you are compensated for groceries plus your labor. If you have any other place you can live temporarily or until a lease on your house expires this is the time to start seriously considering all your options.
Choosing to put up a mobile home on the property is an excellent option. Once the connections are completed you are faced with the next task of readying your home for renting or leasing. This is a tremendous task for those unfamiliar with the process. Here is a way to accomplish this task for minimal cash output to get you on the road to saving your investment in your home and avoid foreclosure
Getting your house ready for rent is a tough job but you can do it. Find a starting point and clean top to bottom.
Organization is the key to success. Make a cleaning plan and stick to it. If you’re lucky enough to have a helper, put the list out in a prominent place and each of you check off each job as it is finished.
Make a list of everything that needs to be done. You may want to get started on doing some of this yourself and see how far you can get with it. Take a tough sponge mop and wash the ceilings. Depending on the condition of your house, you may need to paint. Many times this can be avoided simply by washing the walls with hot water and pine cleaner with a good terry cloth rag. Wipe an area with wide swipes of a very wet rag using little pressure. Keep going doing as many rooms as you can. Then begin over at the starting point. By this time, the dirt on the wall has time to absorb the water and loosen for you. It will come right off without scrubbing. Only drawback is having to do the whole house twice, but it’s still much easier than scrubbing so hard!
Hire help or DIY but make sure everything on your list gets done. Re caulk the bathroom tubs and sink areas with fresh caulking. Sand down deep scratches on any wood cabinets or drawers and stain with either wood stain or a dark furniture polish with scratch cover. Sweep and clean the baseboards, ceiling fans, and all woodwork and moldings. Wash windows and sills inside and out. Clean out the ceiling light fixtures. Wipe out all the drawers with pine sol. Repair any holes in the sheet rock and fill all the nail holes in the walls. You can use white colored toothpaste for small nail holes. It works great for this. Any needed minor repairs need to be done now. Replace cracked or missing moldings and put in nice switch plate covers that are in obvious places. Do all you can do to spiff it up a notch. Hopefully there are no major repairs to be done, but if they are try your best to get them done as cheaply as possible.
Tidy up the front of your house. Plant flowers, cut and edge the grass, pick up all trash remove all items. You may want to hang a nice plant by the front door or set a potted one on the porch. Make sure you have a clean light at the front porch and your front door is clean and oiled. You want to make as nice of a presentation at the front door of your home as you possibly can because this is where people’s first impressions are formed. Make sure the front door is cleaned and the footplate is clean with a light coating of oil to give it a sheen. You’ll be amazed how important these little things are in the big picture of things.
Clean your carpet as best as you can. I am going to allow my renter’s to have pets on approval because my carpets are in less than average condition. This way I will not have to install new carpets at this time. You may want to change this and add new carpets later on when you money is not so tight and you can afford it. In this case you may want to alert your renters of the upcoming change, usually at the end of their lease. This is when you will have the opportunity to change the conditions of the rental agreement. You may want to give tenants with pets fair warning and extra notice so they can begin to look for another place to live if they want to keep their pets.