Safe is always a relative word. DO you know anyone in the area? Any family? You can always drive the neighborhood, talk to people who you see outside, talk to people you see in shops....talk to the cops you see.... more
Unfortunately, charge offs can generally remain in your credit report for about seven years--as long as your charge offs remain unpaid the lender(s) can make attempts to be paid--any future lender(s) will take your charge offs very seriously--if you are looking to purchase in the near future, work diligently on having the charge offs eliminated--speak to the original creditor(s) and see if something can be worked out as far as any payment(s).... more
I like Bruce's answer. Before considering taking any action, you need to understand that IF you were to do it - against recent SOLD comps, if the investment would have an ROI.
Sometimes a conversion is necessary to get the home sold. For instance, my parents were trying to sell a home of theirs a few years back. It was 2 BR/2Bath and a really nice ranch with all sorts of vaulted ceilings. Many potential buyers were like, "wow this is great but I really need a 3 BR". So after 30 days of hearing that again and again, dad took the dining room and walled it off from the foyer/lr area - and added a door from it into the "br hallway" area. Viola! A 3rd BR on the cheap. And then it sold very quickly thereafter.
With your home the way it is ... are there a good pool of buyers or do most of them want/need a 3rd BR. This needs to be understood.