The New Crop Of Landlords – Unsuspecting Victims

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A large number of homeowners, paying two mortgages because they can’t sell their previous home, are finding out that being a landlord isn’t as easy as it sounds.  With housing prices in decline, many homeowners are deciding to rent out their old house rather than take a loss discounting their house to a price low enough to sell it.  According to RISMedia, “People don’t want to be landlords, but they really have no choice, said Dennis Dickstein, a Realtor at Real Estate One in Farmington Hills, Mich., who estimates that 20% of his deals are leases.”  Continue reading

Bombs Found In Two Houses

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In District Heights, Maryland, a real estate agent was inspecting a recently foreclosed home and found what appeared to be two pipe bombs left in the basement, believed to be left by the previous owner.  In an effort to retaliate against the bank, he is suspected of booby-trapping the house with two explosive devices.  The real estate agent called the bomb squad and the devices were disposed of.  So, while buying your next foreclosure, you’d better get a home inspection, termite inspection, foundation inspection and now, a bomb inspection too. Continue reading