Are there any foreclosures, short sales or distress properties in your town or neighborhood? If you answered "no," you probably aren't paying close attention to the local real estate market.

Good times or bad, these situations always occur. Even during the peak years of 2004 and 2005 for home sales, there were still mortgage lender foreclosures and distress property sales. Today, the numbers of these sales are rapidly rising. If you're interested, the current buyer's market in most cities is a great time to acquire these below-market-value properties.  more...

DEAR BOB: To avoid probate costs and delays when I pass on, I recently created a revocable living trust and deeded my condo title into it. I am 62 and plan to get a senior-citizen reverse mortgage in about eight years when my current interest-only mortgage converts to an amortized mortgage. Does having the condo title in my living trust prevent my getting a reverse mortgage? --Alan W.

DEAR ALAN: No. As long as you have sufficient equity in your principal residence, holding title to it in your revocable living trust won't prevent you from obtaining a reverse mortgage.  more...