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The 'Best Friend-Worst Enemy' Reverse Mortgage Quiz
September 16, 2024
Reverse mortgages are not as complex as the decisions that surround these financial and lifestyle wealth management tools.
When a reverse mortgage is the right solution, it is the only choice and, therefore, you must consider it your best friend.
When other approaches would suffice, a reverse mortgage may be an expensive worst enemy.
Here ...
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Seller refuses to make agreed-upon repairs
July 30, 2024
Q: We were supposed to close on a house a week ago. The day before the scheduled closing, we went out to the house and noticed that the seller did not fix the heating system as we agreed in the contract.
We gave the seller a one-week extension. It is now the day before the revised closing date and he has not yet fixed the problem. Our lease is ...
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Parents shouldn't place kids' names on real estate
July 26, 2024
DEAR BENNY: Twenty years ago my mother placed my name on the deed to avoid issues when she passed on. Will the IRS treat this as inherited property or consider it investment property? Did I inherit her half of the property? --Theo
DEAR THEO: Why, oh why, do parents do this?
For example, let's say your mother and father bought their house ...
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Small improvements make most of utility room
July 24, 2024
Call it what you will -- utility room, laundry room, mud room -- the names say it all. It's a place for the washer and dryer to live, a place for wet and dirty clothes to hang out, a landing point for muddy boots and chore jackets, you name it. If you have one of those multipurpose rooms and you'd like it to do even more, or at least do it more ...
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Disclosure: What Sellers Need to Know
July 21, 2024
States are cracking down on sellers' obligation to disclose known material facts about properties for sale—especially conditions not readily apparent, such as a cracked foundation. A material fact is anything that could affect the sale price or influence a buyer's decision to purchase a home.
The major cause of post-sale disputes and lawsuits ...
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The Big clean
July 19, 2024
Scrub, wipe and polish. It must be spring and time to sweep away the grime of winter. & Don't forget to recycle
It's been a long, long winter, but spring is making slushy inroads, which means it's time for the annual ritual of spring cleaning. This is when we wipe away winter's grime and hopefully go even further and recycle unwanted items, ...
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Parent trap
July 19, 2024
Parents who live in single-detached homes in Canada's largest cities are among the most likely to have adult children living at home with them, suggests a Statistics Canada study.
The data suggest that nearly 60 per cent of Canadians aged 20 to 24 live with their parents, compared with just 41 per cent two decades earlier.
In an age of early ...
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Ottawa population to hit 1.13 million by 2031
July 17, 2024
With urban sprawl and Greenbelt development once again hot topics, the city's planning and environment committee will be asked Tuesday to approve new population projections for Ottawa.
A recent staff report has forecast the City of Ottawa will have 1,136,000 people, 496,000 households, and 703,000 jobs by 2031.
The Greater Ottawa-Gatineau ...
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How to sell in a buyer's market
June 23, 2024
You've got to be proactive on price, marketing and more. Here are 10 steps to take before you plant the "for sale" sign.
If you're selling your home this year, be prepared for a marathon, not a sprint.
In most places, those heady days of putting a property on the market, receiving multiple bids, getting more than you expected, and accepting ...
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Paid off home, now how to get title?
June 20, 2024
Q: I live in Southern California and paid off my home. I received "Substitution of Trustee and full reconveyance" that was recorded in my county in June 2007. Is there some other document that I should receive indicating title, deed or ownership of my property? I received an ad from a private company indicating they would assist for a fee to ...
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