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Tech tools for real estate survival Premium Content

By Bernice Ross, Monday, February 9, 2009.

Last week's column looked at two major real estate trends for 2009: going global and using video for both personal and business communication. Here are eight additional tips from Real Estate Connect to build your business in 2009.

1. Use Facebook and LinkedIn to reduce spam and build your referral network
Using social media is one of the best ways to eliminate spam. Only people you approve can send you messages. Furthermore, when you meet a potential buyer or seller, invite them to join ...
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Pros, cons of a no-cost refi

By Jack Guttentag, Monday, February 9, 2009.

The current refinance boom has focused attention on no-cost mortgages -- henceforth NCMs -- which have attractive features to refinancing borrowers. NCMs help borrowers avoid being overcharged, and they eliminate most of the uncertainty involved in determining whether a refinance will pay.

On the other hand, the price of NCMs -- as measured by the interest-rate increase borrowers must pay to avoid refinance costs -- is unusually high in the current market. The challenge is to obtain the benefits of NCMs without paying an excessive price for them.  more...

Fearing default, reverse mortgage a last resort

By Benny Kass, Monday, February 9, 2009.

DEAR BENNY: My mother has a mortgage for about $26,000. Her home is worth considerably more (how much I'm not sure), but given today's housing market the value has probably declined. I do know that the terms of the loan are such that she's paying only the interest monthly -- she's not paying down the principal.

If she defaults on the loan, can the bank compel her to sell her home? Would they be entitled to the $26,000 plus fees? And if so, any idea what those fees would be?

What options does she have regarding a different loan or repayment schedule?  more...