DEAR BOB: Last October we sold our home and agreed to carry the 20-year mortgage for the buyers. They paid a $55,000 cash down payment and will be paying us 6 percent interest retirement income payments secured by our former home we would love to foreclose on. Just joking! They paid us all the monthly payments so far on time with no problem. But the husband phoned to ask me if I would be supplying him with an IRS 1099 form for his 2004 interest deduction. I asked my banker but he doesn't know who I can get to do the calculations for each month's payment of principal and interest.  more...

Whether you are a home buyer or seller, a "rookie" real estate agent dreaming of your first sale closing, or an "old pro" real estate investor or sales agent, we always need to learn more about real estate negotiation tactics to become super-successful. That's what makes negotiation, especially real estate negotiation, so challenging – there is always more to learn!

Having bought and sold dozens of properties over the last 37 years, I've probably encountered almost every type of real estate negotiator from bad – no, horrible – to super-successful.  more...

For more than 55 years, attorney Mark Hurwitz practiced law in a downtown building he owned. His property included an adjacent area for parking one or two cars.

Hurwitz learned the city planned to erect a curb to block access to his parking area. So he filed a lawsuit to obtain an injunction to bar the city from constructing the curb.

Purchase Bob Bruss reports online.  more...

DEAR BOB: Under the new Fair and Accurate Credit Transaction Act, I decided to get my free credit report by calling 877-322-8228. To my surprise, my report still shows a mortgage that I paid off last October. What can I do to correct this credit bureau mistake? – Frank D.

DEAR FRANK: I must hasten to emphasize the free credit reports are only available in a few Western states so far. The nationwide program spreads gradually eastward over the next few months.  more...

DEAR BOB: We are "cash challenged" home buyers. As you often suggest, we are trying to get pre-approved for a mortgage before we start seriously shopping for a home. A mortgage company we consulted suggests we get an "interest-only" mortgage because our monthly payments will be rock bottom so we can qualify for a larger mortgage. That's good. But it is an adjustable-rate mortgage. That's bad. Also, it has a 10-year term. By then, my husband expects to be promoted and transferred to his company's main office. What do you think of interest-only mortgages? – Ruth Ann G.  more...

Dear Barry,

We had nearly closed on the purchase of a vacation home when the lender brought the deal to a standstill. They said the gas fireplace is not an adequate heat source and insisted that a new heating system be installed. What's more, they now require us to hire a home inspector, even though we waived that contingency. A home inspection, we feel, is an optional service, available for our peace of mind, if we so choose. Can lenders simply make these kinds of demands regarding heating and home inspection? – Carmen

Dear Carmen,  more...