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...