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Seller financing without hiccups

By Benny Kass, Monday, March 9, 2009.

DEAR BENNY: We are in our late 70s and have moved out of our house. We are selling the house to our daughter for approximately $338,000 and we are taking back the mortgage.

We have been told the minimal interest rate we can charge her is 1.61 percent without getting in trouble with the IRS. And, it must be renewed each year. Is this correct? Please advise. --Louise  more...

Top home-buying mistakes

By Dian Hymer, Monday, March 9, 2009.

Low interest rates and home prices have convinced some homebuyers that now is a good time to buy. If you're a first-time buyer or haven't bought in awhile, take heed of mistakes you'll want to avoid.

Buying a home takes time. Invariably, your life will get busy as soon as you get serious about buying. Working with a good real estate agent who knows your area well, stays on top of details, and communicates promptly and clearly definitely helps.

However, never forget that you are the decision maker.  more...

Cashing in on FSBOs Premium Content

By Bernice Ross, Monday, March 9, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/thetruthabout/2669562570/">TheTruthAbout...</a>.

In today's market, expired listings and distressed properties seem to dominate the scene. Nevertheless, there's another source of right-now business that you can't afford to miss: for-sale-by-owners (FSBOs).

I was chatting with Curtis Fenn of RedX about what is working with their customers in today's market. Fenn's company provides lists of both expired and for-sale-by-owner listings scrubbed against the "Do Not Call List."  more...

Senior dilemma: lots of equity, little income

By Jack Guttentag, Monday, March 9, 2009.

A common problem among aged homeowners is that they no longer have the income to service their mortgage, and don't have a good way to convert the substantial equity in their house into cash flow. The case below is typical.

"I am a 67-year-old widow with a mortgage of $414,000 on a house valued at $1.25 million. I can no longer afford the mortgage payment and property taxes, but the lender will not discuss modifying my loan contract until I am behind three payments. I don't want to destroy my credit, and have been borrowing from family to stay current. Is there anything else I can do?"  more...