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Ashley Frazier, a 25-year-old critical care nurse from La Marque, Texas, purchased her first home less than two years ago, thinking she’d found a great deal.
At the time, she was pursuing a dual doctorate and ready to leave her parents’ house. But soon after moving in, she began noticing strange issues — ceiling light fixtures filling with water, her microwave fogging up daily and a consistently damp attic. The house, which was less than three years old, turned out to have a serious humidity problem.
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“This was supposed to be my dream home, my starter home. It wasn’t supposed to have any problems,” Frazier told KHOU 11 News. “Now I just feel like I’m living in a nightmare.”
Frazier has since moved out of the home after a mold inspector she hired reportedly deemed it uninhabitable.
What caused the mold issue?
After discovering condensation and visible mold in her still-under-warranty home, Frazier contacted the builder, Lennar. The company sent out an HVAC technician and a mold inspector, but concerns grew when they declined to check behind the walls.
“That’s when the red flags started going off,” Frazier told KHOU 11, noting the mold appeared to be coming from inside the walls and cabinets. Around the same time, she began experiencing respiratory issues, and a chest X-ray revealed a developing scar tissue nodule.
Frazier then hired her own mold inspector who found dangerously high mold levels — 2.2 million spores per cubic meter — declaring the home unsafe to live in.
“I moved out immediately,” she said.
Frazier hired a lawyer soon after.
Lennar responded by stating: “We work hard to promptly correct issues that are our responsibility … Unfortunately, despite our repeated efforts, this homeowner has not allowed us to inspect the home since last summer or to perform any proposed remediation.”
Frazier’s attorney countered, explaining that an exhaustive investigation is required for a legal claim. They are nearing completion of the process, and expect a resolution soon.
How to navigate issues with your home — whether you rent or own
Discovering issues like mold growth in your home can be overwhelming, but quick action can help protect both yourself and your finances. Whether you rent or own your home, here’s how to handle deteriorating property conditions.
Document the problem immediately
Record dates, times and detailed descriptions of mold, water damage or structural issues. Take clear photos or videos of affected areas. Keep medical records and receipts if health problems develop.
Notify the builder or landlord in writing
Homeowners should alert the builder and insurer and request a written report. Renters should formally notify the landlord by certified mail or email to keep a record.
Consider getting an independent evaluation
If concerns are dismissed, hire an independent inspector, mold specialist or contractor for an evaluation. This report can serve as evidence if legal action is needed.
Understand your rights
Homeowners should review warranties, insurance and state laws on construction defects. Renters should research tenant rights in their area.
Explore financial assistance options
Mold and major home repairs can be expensive, so check what your insurance covers.
If caused by contractor error, their insurance policy might cover the damage. Government programs — like the U.S. Department of Housing and Urban Development (HUD) or FEMA — may also be able to provide potential assistance.
Either way, documenting everything and getting expert advice is key when facing landlord negligence or builder defects.
Homeownership without the hassle
If you’re looking to enjoy the financial benefits of homeownership without the mold — or headaches from costly maintenance and tenant management — there are options that can make it possible. The U.S. home equity market offers one such opportunity.
This $34.9 trillion market has historically been the exclusive playground of large institutions.
But Homeshares is changing the game by allowing accredited investors to gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.
The fund focuses on homes with substantial equity, utilizing Home Equity Agreements (HEAs) to help homeowners access liquidity without incurring debt or additional interest payments.
This approach provides a hands-off way to invest in high-quality residential properties across various regional markets — with a minimum investment of $25,000.
Even better, risk-adjusted target returns range from 14% to 17%. Homeshares’ U.S. Home Equity Fund could unlock lucrative real estate opportunities for you, offering accredited investors a low-maintenance alternative to traditional property ownership.
You could also try tapping into the $22.5 trillion commercial real estate sector, which has long been restricted to a select group of elite investors.
First National Realty Partners (FNRP) can help accredited investors diversify their portfolios through grocery-anchored commercial properties — and without the responsibilities of being a landlord.
With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to triple net leases, accredited investors can invest in these properties without worrying as much about tenant costs cutting into their potential returns.
Simply answer a few questions – including how much you would like to invest – to start browsing their full list of available properties.
Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
