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Real estate tax break not likely if living in 2 states

By Robert Bruss, Wednesday, March 29, 2006.

DEAR BOB: I own two houses in trust. One is in West Virginia. When my husband moved out of that house, he signed the papers to transfer title to me. I now live there for several months each year, but it is not my permanent residence. I cannot claim a homestead exemption there because I claim a Florida homestead. Can I use the tax-free $250,000 exemption on the West Virginia house if I lived there 24 months during the past five years? --Elinor T.

DEAR ELINOR: I presume by holding title "in trust," you mean in a revocable living trust.  more...

Can borrower rescind real estate loan within 3 years?

By Robert Bruss, Wednesday, March 29, 2006.

In early August 2000, homeowner Nancy O'Brien received a marketing call from Aames Funding Corp. She expressed interest in refinancing her home and paying off $15,000 in credit card debt.

Aames then arranged two mortgage loans for her to pay off the $83,492 first mortgage, consumer debt, property taxes, and transaction charges, for a total of $104,662.

Purchase Bob Bruss reports online.

On Aug. 31, 2000, O'Brien received a first mortgage loan for $79,500 from Aames.  more...

Hardwood floors in bathroom generally a bad idea

By Bill and Kevin Burnett, Wednesday, March 29, 2006.

Q: We are planning a bathroom remodel. We like the hardwood floors in the rest of our house very much and are considering hardwood in the bathroom too.

Contractors who are bidding the job have given us mixed responses. One said he thinks hardwood would be great, but two others strongly recommend against it because of potential water damage.

We are pretty neat and tidy people--no wet towels on the floor, etc. What are your thoughts? Are hardwood floors a good idea for the bathroom?

A: To put it bluntly, no.  more...

When it comes to new homes, size really does matter

By Tom Kelly, Wednesday, March 29, 2006.

The size of America's most popular home of the future will continue to grow. The reason provided by one of the nation's most respected analysts, sounds like a popular country-western song:

"I like it. I love it. I can afford it, so I'll buy it."

That's the explanation offered by Gopal Ahluwalia, research specialist in the National Association of Home Builder's economics department, when asked about the growing size of single-family homes, given the dwindling number of individuals living in U.S.  more...