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No-cost mortgage ads can be misleading

Q. When I see ads for mortgages that say there are no upfront costs, I wonder if that means there are other costs involved somehow. Do you have any information on this?

A. Those ads probably refer to a mortgage plan that lets the borrower add closing costs to the amount borrowed, so that they'll be paid off, with interest, over the years.

In the same way, some ads for reverse mortgages emphasize "no monthly payment" without bothering to add that the loan, including closing costs and interest, must be paid off when the homeowner moves out or dies. A reverse mortgage can be an excellent plan for some elderly homeowners, but sometimes the advertising is misleading.

Q. I own half of a two-family house, which is now on the market with absolutely no movement. It is difficult to sell half a house to begin with, but it is worse because my attached neighbors' half is in very bad condition and has debris outside. It is an eyesore. They no longer live there, but they still own it.

I have spoken with both husband and wife, explaining I want to sell my house and asking if they would please at least pick up. She became hostile, and he made promises he hasn't kept. I submitted a written complaint to the town in November, and they have contacted him several times. At first he promised to get rid of the debris, now he is ignoring their phone calls.

I call the town at least once a month and have asked them to pursue this, including a court case and a fine if need be (this would be the only thing to which my neighbor might respond). They say there is just so much they can do; they will try to call again; and they have other complaints as well as mine.

I asked another neighbor who is a lawyer for advice and she said to contact the town, so I am truly back to square one. I am semiretired with limited financial resources, and don't know if there would be any legal recourse.

A. The official term for your problem is "loss of value due to external depreciation" and appraisers classify it as non-remediable, meaning there's nothing you can do about it.

When I get a question like yours and it involves a neighbor's lawn that's growing wild, I usually suggest the homeowner simply offer to mow that grass.

If you're sure that's all useless debris, maybe you could take some pictures (to protect yourself in case of later trouble) and then sneak over there at midnight with a couple of venturesome young gentlemen and tidy up the area yourself.

Of course, I assume that would be illegal. So if you end up in court, don't say it was my idea.

Q. You always say you don't find out what happened after these letters, so I thought I'd share my experience with you. My aunt died in Florida, and no use going into details, but I was the one who had to take care of everything, including her house down there.

I remembered what you've said so many times about pricing a house right. I used a real estate agent down there who knew the area, kept in touch with me every step of the way, and took care of preparing the house for the market.

Her first open house brought lots of buyers, we sold the house promptly, and she set up all the details with very little trauma. Just wanted you to know your advice worked fine.

A. You're right. It's a great relief to put your problems in the hands of a competent agent.

Some years ago, my husband and I found ourselves responsible for settling an estate in Montreal, and it involved an incredibly rundown house crammed with junk. We had only two days up there to arrange everything, so Norm, who was a Realtor, took his own advice. We drove around the neighborhood, noted phone numbers on "For Sale" signs, and invited agents who were active in that area to come right over and talk with us.

Several brokers came that same afternoon, and one of them was sent from heaven. He immediately grasped our situation, offered to get the house cleaned out, send stuff to charities, arrange repairs, contact the post office, everything we wouldn't be able to do from Rochester.

His price estimate was in line with those of the other agents who had simply given us standard presentations about how great they were. The difference was that he had really listened to us. By phone, email and fax he guided us through Quebec's unfamiliar contract and settlement procedures, and everything ended smoothly.

• Edith Lank will respond to questions sent to her at 240 Hemingway Drive, Rochester, N.Y. 14620 (include a stamped return envelope), or readers may email her through askedith.com.

© 2015, Creators Syndicate Inc.

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