Hi all,One of our properties was affected by the Texas freeze: burst pipes and some units are uninhabitable for the foreseeable future.My Q: What are the logical next steps to take, other than filing an insurance claim and waiting?

Worse, given the hard winter freeze currently enveloping much of our country (our prayers are with you Houston!)

I dont see this changing underwriting.. its not like its an annual event.I just happened to be in Jackson MS when the last deep freeze happening in Jan of 09 and it was a major mess there with city mains bursting everywhere and the city literally out of water.. 

@Mario Tinsley- using  your  heloc  for the  30K down  is a decent  option ......you mention the heloc is on a rental  property - you might make sure that the heloc  lender has  these funds  avaialble   ..saying this as  some  heloc  lenders  will  freeze   a HELOC  if the heloc  was  made as a primary  home heloc and then later  changed to a  rental. 

As the room furnaces are the only source of heat, if they didn't pay the gas bill they would literally freeze to death (very little hyperbole). 

The vendor states the a/c broke due to the tenants keeping it in the low 70s, causing it to freeze and auto shut off and that tenants would have to keep it above 74-75 from now on.

@Timothy Allen my understanding is that your HELOC is not locked and banks can freeze them at any time if the market shifts or if your home's value drops significantly.

Hey Mark,We just had a lot of this happen in Houston in February during the hard freeze. 

Corporations would happily see expansion of complicated government housing programs that freeze out small investors.

Deferment freezes interest.