by 
The Curious Bag
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Recently, developers and other individuals have been engaging in a practice known as Flipping a mortgage, also known as house flipping. Over the years, this has become more widespread, and there is even a popular TV show devoted to the topic called "Flip this House."
Background
Flipping a mortgage is the concept of purchasing a house with a mortgage, fixing up or modifying the house if possible, then selling the house for a greater price than the original mortgage.
Prevalence
Typical areas where mortgages are flipped are low-income urban areas, where initial prices are cheaper.
Claimed benefits
Developers and individuals that flip mortgages claim that their acts increase the land value of other houses and the surrounding neighborhood in general.
Problems
The primary argument against flippers is that they increase the price of the house beyond what it should be. Buying a $50,000 house and increasing it to $100,000 means decreased interest in the house.
Risks
The primary risk of flipping is that you may not be able to sell the house before you make mortgage payments, with a second issue being that you still have to pay contractors for their work.
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