DEAR BOB: I own a house where my elderly mother holds a life estate. She lives alone in the house and may someday opt for a smaller apartment. If this happens, and she refuses to release her life estate, do I have any legal recourse? --Patrick L.

DEAR PATRICK: Legally, you are the remainderman, subject to your mother's life estate.

Purchase Bob Bruss reports online.  more...

DEAR BOB: My husband and I sold our home in July 2005. At that time, the buyer requested additional time for inspections, and multiple inspections were conducted. The buyer requested a credit back, which we granted. Now more than a year later, the buyer's lawyer has sent us a letter accusing us of nondisclosure and is demanding $85,000. The items the buyer accuses us of withholding were not discovered by any of the inspections, and my husband and I knew nothing of their existence. We are now involved in mediation, which is costing us lawyer fees and time.  more...

George and Barbara Dawson purchased their home "subject to" a first mortgage with Great Western Bank, a predecessor of Washington Mutual Bank (WaMu), one of the nation's largest home loan lenders. The loan fell into default for nonpayment.

WaMu held its foreclosure sale on Feb. 8 by submitting a "credit bid" for the mortgage balance. No bidders showed up so WaMu took title to the home.

Purchase Bob Bruss reports online.  more...

DEAR BOB: We put our home up for sale in early October. Within a week, we signed a sales contract with buyers. Eight days later, the buyers backed out, stating they changed their minds. We opted to keep their $2,500 earnest money deposit. But we discovered the next day the real estate agent never received the $2,500 stated in the contract. We believe we are owed this money but have been advised to "forget it." Who is at fault for not actually collecting the $2,500 and should we try to collect it? --Joy C.  more...

Dear Barry,  more...

There are two primary reader audiences for "Real Estate Debt Can Make You Rich" by mortgage broker Steve Dexter. The first group of readers will be savvy home buyers and real estate agents who want to learn the inner-secret workings of the home mortgage industry. The second group of readers are real estate investors who not only need to learn how mortgage loans are originated but also how "good debt" can be created to maximize profits.  more...

You already know the current home "buyer's market" (with more homes listed for sale than there are active buyers searching for residences) in most cities is a great time to purchase a home.

There is little competition from other buyers. Motivated sellers are setting realistic asking prices.  more...

Recently, a Los Angeles home seller thought his sale was a sure thing. Mere days later, his house was back on the market. What went wrong? The buyer didn't qualify for financing.

In most cases, this sort of fallout can be avoided. One positive byproduct of the recent fast seller's market is that lenders are prepared to preapprove buyers for financing in a day or two.  more...

DEAR BOB: I rent an apartment in a large complex. About six months ago, I accidentally let my dinner cooking on the stove get overheated. It caused a fire that resulted in about $15,000 damage to my apartment. Fortunately, nobody was injured. The landlord's insurance company paid to have my apartment restored. Now the insurer is suing me for the $15,000. I don't have renter's insurance. Do I have to pay? --Sarah T.

DEAR SARAH: It sounds like you were negligent in allowing your cooking to overheat, causing a fire, which resulted in the $15,000 damage.  more...