Your typical 85% LTV Cash Out FHA refi is/was the habitual debt addicts, the folks who rack up $30k in credit card debt, and every few years consolidate it into an FHA cash out refi, a lifestyle choice predicated on assumptions about real estate appreciation continuing forever.

Your typical 85% LTV Cash Out FHA refi is/was the habitual debt addicts, the folks who rack up $30k in credit card debt, and every few years consolidate it into an FHA cash out refi, a lifestyle choice predicated on assumptions about real estate appreciation continuing forever.

Things like flooring, paint, cabinets, counter tops, appliances, etc do not last forever, and you can generally budget for how long they should last based on a given market.

They could stay forever and it can take you months to evict them depending on where it is located and rip the place apart since they know they will not receive their deposit.GOOD LUCKDennis 

I found that a focus on the debt side of the equation had a bigger impact on my credit score-- low consumer debt utilization rates; paying consumer debt prior to the date its reported to the credit agencies rather than the due date; challenging erroneous information; etc...-- had a bigger impact.

I am starting a new lease with a tenant that is likely to declare bankruptcy on a underwater mortgage and consumer debt.

I had a career working with and developing various consumer products for major brands...  

I've had flips take forever to sell.

to @Prashanth Mahakali point, we need our alderman to push for laws to help those who built the neighborhoods to what they are stay in place, such as freezes for taxes for those who have been in the homes for more than 5 years. and i'm sure there are other ideas that can help fix the issue of pushing those who have lived in the areas for ever out.

It's been forever since I posted.