“Hi Gary, it’s XXXXX. As you know, I’ll be calling you to list my house this summer. I want to get your advice. I think the whole termite requirement is a racket. Every home has termites. But I’m a realist and I know I’ll need to clear the house to sell it. But I want

“I’ve owned apartments in San Diego for 40 years and I’m tired. I’m 71 and want out of being a property manager. My wife and I own a 7-unit complex of Normal Heights apartments. Any ideas on how to sell it without paying a lot of tax?” Answer: Here are six ideas for you: 1.

Asked at my “How To Buy A Foreclosure Or Short Sale” seminar, after I mentioned that I buy investment real estate: “If real estate agents buy all the best deals before they hit the market, how can I get one?” Answer: I wouldn’t be concerned. The way the market has been recently, unfortunately many real

“I’ve heard of Home Path loans. What are they?” Answer: HomePath loans are only offered on FNMA foreclosures of condos, houses, and 2-4 unit properties. Here are some bullet points: Low down. 3% down for owner-occupied; 10% for investors No appraisal (saving you about $400) No mortgage insurance No condo complex approval needed If you’re

“We owe $550,000 on our house, but it’s worth $425,000. It’s going to be many years before we ever have a cent in equity. We can pay the mortgage, but it’s a huge drain and we’re considering getting out from under this problem and letting the home go. Does this make us bad people?” Answer:

“In the past you’ve said to avoid buying a short sale. Now I see you have several short sales for sale. Do you still advise clients to avoid buying short sales?” Answer: Great question. Given the choice between buying a home that’s a short sale and one that isn’t, I still recommend the latter due

“Hi Gary. My wife and I are way upside down on our home and behind on our payment. Our bank has suggested we apply for a loan modification. Do you think this is a good idea?” Answer: If you love your home and you’re not that far upside down and can make the lower payment,

“I don’t know what to do. We were supposed to close on a short sale this week, but I just found out the bank foreclosed on the home. We had a contract. How is this possible? I even called the sellers agent and they say they can’t help me. What should I do?” Answer: Many

“I’m going to be buying a home soon and I’m a member of the XXXXXX Credit Union. Should I go there to get my home loan or to my bank?” Answer: Credit unions are funny. Because they’re non-profit, you get some curious results… Occasionally, credit unions have slightly more favorable rates than other lenders. And

“I want to sell a house I own that’s currently tenant occupied. What rules do I need to follow on giving my tenant notice to move?” Answer: If the tenant has been in for under a year, you can give 30 days notice to vacate IN WRITING and correctly delivered. However, if they’ve been in