could not get the loans.. existing debt would not refi ( banks were frozen) largest bankruptcy in Oregon history. and his properties were nationwide.OPUS out of Minniapolis MUTLI BILLION dollar shopping center Multi Fam developer etc..

The work involved is remediation of mold in the bedroom,  new insulation and sheet rock the bed room, the water pipe has frozen, since the bank winterized the house later.

What has been your personal experience with Lines of Credit being frozen? 

Three layers of pee-stained carpet, 2-3 layers of subfloor, frozen pipes, ruined social life later, was down to the crawlspace and foundation and learned that yes, people did occasionally build a house on a row of fieldstones and mortared brick that was set just right on top of the dirt.  

Someone is sure to bring up that HELOC can get closed or frozen during a sever downturn.

I know that I work hard for my clients, as even the "easy" sales usually require lots of time and coordination, termite/moisture issues, emergency repairs (just recently, roof leak the day of walk-through, frozen pipe when power went out after home inspection before appraisal), title problems, closing delays due to tax transcript issues.   

I haven't had to deal with that (I don't even have to worry about frozen pipes here in Florida)But, jeeze, $13,000?

It appears to be old parging that water has gone under and frozen.

The emotional value she has knowing that we own a rental property free and clear (cash flowing $1000/month) with no debt owed to anyone (aside from county taxes) trumps leveraging that asset to acquire additional properties.Thankfully, the cashflow from that asset and our other properties will enable us to save the 20% down payment on another SFH by the end of the year when the local market cools down a bit.your wife is a smart lady..... everyone should have something to fall back on.. also one thing to note and its rarely mentioned and of course i am not saying this is going to happen.. but when a market corrects Heloc's can get called or frozen.. so you want to be careful with those .. thinking they are a piggy bank you can always access. 

This means around the 1st of the year there is a temporary boom of unqualified renters entering the market and to make matters worse the temperature normally drops tremendously which increases the danger of frozen pipes or high utility bills (choose one or the other) insurance agents tend to frown upon vacancies...