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the mortgage debt?” If the mortgage debt is, say, $20,000, can he say “I spent $10,000 on improvements so I only owe $10,000.” This sounds reasonable, doesn’t it?
As logical as this may seem, the answer is “NO!” Those improvements were made in and to the house. The increase in the value of the home benefits the holder of the mortgage by increasing his security for the debt.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, realtor, the Clopton House, Washington, Va. 22747. Phone: 675-3400. We’re here to. help.
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