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Many borrowers have two loans on their property: one loan is with a first lender and the second loan is with a home equity line of credit lender (HELOC). In some cases the loan may not be a HELOC, but rather a second loan. In any case, if you are having mortgage problems or mortgage troubles and stop paying either the first lender or the HELOC lender, you might be in big trouble and going down the road to foreclosure. Foreclosure is one option lenders have, but you might be able to negotiate a solution before foreclosure.

Many parents want to transfer their home to their children during their lifetime, rather than wait until they have died and transfer the property by will. In some cases, transferring a home to a child when the parent is living may be a mistake. In other cases, if the planning is done right, the parent can get his or her wish of having the home pass on to the child during his or her lifetime without adverse tax consequences for the parent. When you co-own a home with your children, you need to be extra careful in the way you transfer your interest to them.

When you decide to invest in real estate, you'll have a choice as to how you want to hold title to your real estate investments. One choice is to hold title to real estate in an LLC (limited liability company). A limited liability company protects the individual owners from personal liability and for federal income tax purposes those investors can ignore the LLC when they complete their tax returns. The LLC exists but the owners can take the losses and gains from the investment directly on their individual tax returns. For these reasons, most real estate investors choose to hold title to their real estate investments in an LLC.

Primary Residence Or Principal Residence: Mortgage Lender Problems A reader purchased a first home and lived in it and then bought a second home. She now lives in the second home. Now the lender claims she is in default under her loan agreement for failing to use her first home as her primary residence or principal residence. Does the lender want to foreclose on her? She is current on her loan payments. She rents out the home and otherwise has no issues at this time other than the lender now driving her crazy. It seems her mortgage lender is just trying to create problems for her.

House Raffle Is Possible For Some Sellers in Some States. In the past, we have written about house raffles and how only charities or other qualified not for profit organizations can legally conduct house raffles. Now, however, it seems that homeowners have teamed up in at least one state to set up, conduct and sell homes using house raffles. Will you be able to sell you home using a house raffle? That will depend on the laws in your state and the willingness of the authorities to allow them.

Home equity line of Credit is now more difficult to get. The credit crisis has caused lenders to become more cautious and in some cases withdraw from the second home loan mortgage market, including home equity lines of credit or any type of home equity credit line. Why? Lenders have been burned with these home equity lines of credit, or any type of second home loan or home equity line of credit. Now lenders are pulling back and getting out of the equity line of credit market.

What happens if you can't pay your mortgage? A homeowner worries about getting a deficiency judgment if her rental property falls into foreclosure because she can't pay the mortgage. Some states allow deficiency judgments on primary residences, but many do not. If your house is in foreclosure because you can't pay your mortgage, you'll want to make sure that the lender in your foreclosure can't come after you for a deficiency judgment. In some circles, when a lender can't go after the borrower for the debt, the debt is called a non-recourse loan.

Buying or owning real estate with family can be tricky. What can you do if when one family member stops contributing and won't agree to sell. If the co-owner won't ultimately agree to be removed from the title to a home on whose mortgage he's made no payments, it may be necessary to file a partition suit.

If you don't pay the real estate taxes on your home, you could lose it to a tax purchaser. That tax purchaser can buy your home at a tax sale. You'll have a short period of time in which to redeem the property sold at the tax sale, but not long. Unpaid real estate property taxes is one reason why mortgage lenders require most home buyers to escrow taxes with their mortgage payment.