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Short-term owners consider unique real estate loan

By Robert Bruss, Thursday, November 11, 2004.

DEAR BOB: We are thinking about refinancing our home loan, which has a 6.75 percent interest rate. The mortgage broker who made us our loan several years ago offers an "interest only" mortgage at 5.75 percent guaranteed for five years with no closing costs. As we plan to sell our home in three or four years, is this a "good deal?" – Ron R.

DEAR RON: The big advantage of an interest-only home loan is 100 percent of your monthly payment is tax-deductible interest. Another advantage is your payment is as low as it can go at that interest rate.  more...

Unwelcome tenant spurs homeowner to legal action

By Robert Griswold, Thursday, November 11, 2004.

Question: My mother invited a "friend" who was down and out to stay with her while she got herself back on her feet. The "friend" turned out to be an extremely unethical, manipulative woman who is now refusing to move out of my mother's home after staying there for almost one year without paying any rent. My mother has asked her to leave and she has blatantly said "no." I want to know if she has any tenant rights. She has never signed a lease or paid even one dime of rent money. I would like to have the police department remove the woman.  more...