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Recent college grads find apartment hunt tough

By Janet Portman, Thursday, September 13, 2007.

Q: My son and his friend just graduated from college and are having a tough time getting an apartment. Though they both have good jobs and were excellent tenants while in school, they're losing out to older applicants with better salaries, longer histories as tenants, and more established credit. Any suggestions on how they can improve their chances? --Harold D.  more...

When must landlord update electrical outlets?

By Helene Lesel, Thursday, September 13, 2007.

Q: I live in an older building and my apartment doesn't have enough electrical outlets. Isn't the owner required to add more or update the system?

A: Depends of what condition the system is in. A property owner is normally required to keep a place "fit and habitable," which is defined in most places by state law and sometimes honed by county, city, village or town laws as well. "Habitable" means that the rental unit is fit for occupation or "suitable to be lived in." Unfortunately, what's considered "suitable" for some dwellers may not suit other folks at all.  more...

Broken air conditioner no reason to withhold rent

By Robert Griswold, Thursday, September 13, 2007.

Question: I live in an apartment and my air conditioning broke down on a Saturday during the hottest weekend of the year. I called the manager and he said they cannot fix it until Monday. I was without the AC for three days. I think I should not pay rent for three days. What do you think?

Steven Kellman, an attorney for tenants, replies:  more...

Negative-amortization loan unwise for 65-year-old

By Robert Bruss, Thursday, September 13, 2007.

DEAR BOB: What is your opinion on my pulling out as much equity as possible from my home by taking out a negative-amortization mortgage in order to have retirement income 10 years from now? I am 65 but still work, have good income and a good FICO (Fair Isaac Corp.) credit score. My son says "no." What do you think? --Carmen S.

DEAR CARMEN: I think you have a very smart son. Why in the world would you take out a negative-amortization mortgage where you will owe more than you borrowed? That makes no sense.  more...

 
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