If lender can’t provide copy of appraisal, demand a refund
Q: We had several unsuccessful attempts to refinance with two mortgage brokers because our house is located in a risky ZIP code and the appraiser said that he was unable...
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Rent-free living arrangement requires planning
Q: My wife inherited her sister's house when she died last year. We want to allow our two oldest daughters to live there rent-free. The house will remain in my...
Think twice before selling real estate at a loss
market for approximately two years. One is our primary home, and one is a second home on the lake. Due to personal issues, we want to sell. Should we take...
‘Pacific Heights’ comparison on possible rental of home unfair
Q. Your comments in a recent column to an elderly person seeking advice on possibly renting out her home were unfair. Suggesting to this person that she watch "Pacific Heights"...
New reverse mortgage opens options for seniors
Q. I have been a student of retirement living since 1962, when I was an executive with one of the major developers of active retirement communities. Among my findings: There...
Homeowner overpaid taxes for years on garage conversion
Q. We bought a foreclosed house in 1995 in which the garage had been converted to an illegal family room. At closing, we had up to 60 days to have...
Jumping through hoops to buy a home
Q. I live in Chicago and read with interest one of your recent columns in which an individual wanted to purchase a house for his aunt and avoid a huge...
What you can expect after paying off mortgage
Q. Because savings interest rates are so low, I've decided to accelerate paying off my home mortgage. But after I pay off the mortgage, then what? What else do I...
When there’s a will, there’s a way
Q. I resided with a 71-year-old male who died in November with no will, but I took care of him since 2002 and lived with him since 2005 because his...
IRS scrutinizing first-time homebuyer tax credit
Q Iam in the process of preparing my 2010 income tax return and bought my first home last year. How is the first-time homebuyer tax credit reflected on the tax...