Many Rely on Real Estate Agents for Business

Barry Stone
Inman News

Dear Barry,

I am a newly certified home inspector and have a question that involves professional ethics. When I attended home inspection school, my instructor told the class that we should not be "deal-breakers," or real estate agents would not refer us to their clients. I thought that home inspectors were supposed to disclose substandard property conditions and other serious defects for the benefit of home buyers. How can we perform this function in a competent and ethical manner without losing the support and recommendations of agents? --James

Home Equity Credit Line Recommended as Safety Net

Robert J. Bruss
Inman News

DEAR BOB: My husband and I owe about $57,000 on our home mortgage at 6.75 percent interest. We have that amount in a money market account, which only earns around 4 percent interest. I think we should take that money to pay off our home loan and never have to worry about mortgage payments again. I am 58 and my husband is 56. He took an early retirement buy-out from his employer, but I still work as a legal secretary because I enjoy getting out of the house each day. Do you think we should pay off our mortgage now? --Marilyn H.

Tax Issues Explained
Robert J. Bruss
Inman News

If you are a serious real estate investor and want to learn the pros and cons of quick sale property profits, there is no better book than "Flipping Properties, Second Edition," by William Bronchick, Esq., and Robert Dahlstrom. These experienced investors reveal what they have learned over 15 years of real estate "quick flip" investing by purchasing at a bargain price, cosmetically fixing up property, and flipping for a fast profit.

(This is Part 2 of a three-part series. See Part 1.)

Last week, I advised against becoming a mortgage lead. That means ignoring the too-good-to-be-true mortgage promises that bombard every computer user today.

DEAR BOB: In 2001, my son got married and purchased a home, but the house is titled under his wife's daughter's name. The reason was my daughter-in-law owed the Internal Revenue Service a large amount of money. My son has paid all the expenses such as mortgage payments, property taxes and maintenance. His wife recently died of cancer. What are my son's rights to this property? --Celia C.