By Benny Kass
Published: May 15,2012
DEAR BENNY: My mother has a reverse mortgage on her home, taken out after my father died when as the survivor her name alone was on the title. The usual terms of the reverse mortgage apply, including the acceleration clause upon death or removal from the home. If anyone else is added to the title [...]
By Benny Kass
Published: May 11,2012
DEAR BENNY: We own two houses, both of which have been on the market for approximately two years. One is our primary home, and one is a second home on the lake. Due to personal issues, we want to sell. Should we take a loss and sell or hang tight? –Joyce DEAR JOYCE: If you [...]
By Benny Kass
Published: May 7,2012
DEAR BENNY: In 2009 my father died. My sister and I needed to sell his property as soon as possible, as neither of us wants to move away from our own properties. It was a challenging farm property to sell. We wanted to sell it outright, but that was so open-ended that we decided to [...]
By Benny Kass
Published: May 3,2012
DEAR BENNY: I’m writing because I need to consult with an attorney on what would happen in the event that I walked away from an underwater property. In 2005 I invested in real estate in and around Wilmington, N.C. The area was experiencing the boom like everywhere else. I built and acquired townhouses at the [...]
By Benny Kass
Published: April 30,2012
DEAR BENNY: In reference to your article about force-placed insurance, I have a client who recently closed on a short sale as the seller. He had moved out about a year and half prior to the final closing and maintained insurance coverage up until the final months leading up to the closing. The lender is [...]
By Benny Kass
Published: April 27,2012
DEAR BENNY: Every other year, I review and shop for homeowners insurance about three months before my anniversary date, which is Nov. 1. However, my lender has taken to paying whatever company I have two months early. Nobody can explain why. In 2009, Farmers raised its rates, and Travelers was about 30 percent less. So [...]
By Benny Kass
Published: April 23,2012
DEAR BENNY: In December 2007 I purchased a one-bedroom unit on the top floor in a mixed-income development. Nearly seven months ago, management ran a water test on the roof that resulted in water flowing into my unit, as well as both structural and personal damage to my ceiling and possessions. I am a board [...]
By Benny Kass
Published: April 19,2012
DEAR BENNY: I am a real estate developer, homebuilder and property manager in California. The California Department of Real Estate requires extensive disclosure documents for the sale of property in all common-interest subdivisions. Those disclose great detail on the use of all funds collected from homeowners association dues. The DRE also requires that full HOA [...]
By Benny Kass
Published: April 16,2012
DEAR BENNY: I enjoy reading your articles and I have a question of my own. My wife passed away three years ago and I recently remarried. I plan to retire this year and want to refinance my home. The house is in both my deceased wife’s name and mine. What complications will I run into [...]
By Benny Kass
Published: April 12,2012
DEAR BENNY: In a recent Q-and-A, you wrote that a security deposit is not rent, and, thus, if the tenant moved out without paying the last month’s rent, the property manager is not entitled to a commission on that money. I have been a real estate broker and property manager for 40 years. What about [...]
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