If a tenant breaks a lease, the landlord can mitigate their damages by continuing to charge the tenant rent until theyâre able to re-rent the unit. If a landlord has to re-rent the unit at a lower amount than what is stated in the lease, the tenant can be charged the difference for the remainder of the lease period.
1. Refinance your mortgage to obtain cash for home repairs. A popular way to pay for home repairs and renovations is through a cash-out refi, which is simply a way of swapping your existing mortgage for a new one and converting some of your home equity to cash in the process.. Seek out a second mortgage. A second mortgage can be an unattractive option as it can tend to overburden you with debt, but for home repairs with an end in sight they are helpful. A second mortgage is a loan secured on your accumulated equity.
But these experts say there are ways homeowners can better their chances. Following are housing counselors' tips for getting a mortgage loan modification: 1  Complete the package. 2  Homeowners need to submit paycheck stubs, a hardship letter, a budget and any other documents the loan servicer wants. 3  If even one document is missing or outdated, the entire file will drop to the bottom of the pile.