DEAR BOB: My parents are avid readers of your articles and have become quite the experts on reverse mortgages for senior citizens. But they live in a small town that has one bank, owned and run by an "old geezer" who has been there for 100 years. At least he seems that old. I know he charges high interest rates but he is so charming that most of the "locals" don't bother to go to the nearest city about 50 miles away to compare loan terms. Where is the best place for my parents to get a reverse mortgage? Are reverse mortgages available at small-town banks?  more...

If you know virtually nothing about home loans and want to learn the basics, reading "The Complete Idiot's Guide to Mortgages, Second Edition" by Jamie Sutton and Edie Milligan Driskill is a good place to start. This book explains the very minimum essentials that home buyers, sellers and real estate agents need to know.

Readers won't become home-loan experts, but they will understand how mortgages fit into the home-buying process.  more...

Most mortgage lenders require that home buyers take out a homeowner's insurance policy to protect the lender's interest in case there's a fire. It's a good idea to shop for homeowner's insurance soon after you enter into contract to buy a home.

Before you start shopping, find out if any claims were made against the property during the past five years. Your insurance agent should have access to a data bank that will give you this information.  more...

DEAR BOB: If my partner and I sell our jointly owned home, will we owe capital gains tax if we sell before owning it for two years? We will probably each make about $50,000 profit --Gina B.

DEAR GINA: The fact you are not married to each other is irrelevant. What matters is both names are on the title to your principal residence, and you are selling before owning and occupying it at least 24 of the last 60 months before its sale.  more...

Do you have any friends who sell their homes and move approximately every two years? I know several of those very smart folks. You may wonder why they change homes so often. No, they are not in the federal witness protection program. But they have a very profitable reason.

They are "serial home sellers." There is nothing illegal or immoral about that.  more...

DEAR BOB: I co-own a summer home with siblings and first cousins. Our large group is not getting along and it looks like the property will have to be sold. No consensus can be reached among the co-owners for selling shares within the group, and threats of a partition lawsuit have developed. I am guessing most of the group will want to avoid this. Can a majority interest block a partition lawsuit? --Randy A.

DEAR RANDY: No.  more...