Question: I recently changed apartments in New Orleans (same landlady for old and new apartment) and am about to return after Katrina. My apartment was not damaged (but there is still no power) but I have had no contact with my landlady because of poor communication. Can she charge me for an apartment that I could not get to (act of God) and that is unlivable (no power or clean water)?

I do not have a lease for my new apartment. Can she raise my rent or force me to leave? (rental property in the dry part of town is very 'hot' at the moment). Is this price gouging?

Answer: You have no lease for the replacement apartment, thus in usual circumstances there is no price to gouge, no rent to raise and no rent to lower. You have no claim to the unit. At the same time, the landlady likely has a host of repair and clean-up obligations which must be paid. A higher rental may well be justified.

As to the current unit, if you have a lease, to the extent possible that lease should be honored. If you don't have a lease, then with appropriate notice the landlord may have a right to take back the apartment.

But times are not usual in New Orleans. It isn't the landlady's fault that a hurricane devastated the city or that power and clean water are not available. As a resident of New Orleans, you surely know that predictions of a levee failure and a flood have been around for decades.

You are not alone in your losses. The rent not being collected by the landlord is money that she may need for mortgage payments, medical costs and personal expenses.

The bottom line is this: No one is going to come out whole.

You are fortunate to have an undamaged apartment -- many, many people have not been so lucky. Your first step relating to the apartment should be to contact the landlady as soon as possible and ask what you can do to make her life easier and how matters can be worked out in a way that is fair to both parties. Accommodation rather than confrontation may encourage her to rent the other unit to you at a reasonable rate -- or allow you to stay in the property you now occupy.

Question: I own a home that was discharged in a bankruptcy several years ago. At that time, a lien was placed on the home. We decided to continue living in the home and pay the lien amount each month like a mortgage. Now, I'm about two years behind in my real estate taxes. Can I lose my home because of it, even though there is already a lien on it? We are elderly people and have had our home for 38 years.

Answer: Policies vary around the country, but not paying property taxes can certainly lead to foreclosure.

Some jurisdictions have adopted programs so that senior homeowners need not pay property taxes -- the money owned becomes a lien against the property. When the property is sold the lien must be repaid from the proceeds of the sale.

By any chance, is your lender paying property taxes on your behalf from money collected monthly? If this were the case your property taxes would be up-to-date. If your lender is not paying property taxes, then immediately contact a local housing group, an attorney or legal clinic for specific help. You need to be certain that your ownership is not threatened.

Question: I own ten lots in Florida. They are each in different counties and all of them in very high demand and fast growing areas. I have signed a contract to purchase another property but I have to sell these properties and get the money instead of a loan from bank. I am not a professional investor. I am new in this market and would like to sell my lots fast so I don't lose the contract on the new property. I am willing to sell all lots 10 percent less than market value. How is this possible?

Answer: If you own ten lots you're a professional investor. If the properties are in "very high demand and fast growing areas" why would you want to sell at a discount? If their continued prospects are good, rather than sell why not refinance some or all of the properties with a "blanket" mortgage to obtain cash for the next purchase?

Before going further, please review financing options with a lender.

Also, are you getting any cashflow from these properties to cover mortgage costs? If there is a cashflow issue -- or a lack of cashflow issue -- then it may make sense to sell one or more of the properties at their fair market value. Speak with local brokers to determine reasonable offering prices.

Question: My husband and I recently purchased a house with the closing due on 15th September. The seller agreed and signed the contract. Although there is some minor work to be done to the house, the closing date has come and gone and we have now been informed that the Seller will be out of the country for three weeks.

My husband and I have to vacate our apartment in two weeks with nowhere to live. What can we do?

Answer: The fact that the sellers are out of town is not an issue -- there are fax machines worldwide. Moreover, it is the seller's responsibility to complete the transaction. We recently completed a transaction where the sellers were a 1,000 miles away and distance was simply not an issue.

Ask yourself this: If you had delayed closing by several weeks would the sellers be pleased? Entitled to damages?

Please contact an attorney immediately -- and ask about such remedies as may be available to you.

Question: I am a widow living on less than $900 a month in social security payments. If I get a reverse mortgage, what will happen to the $20,000 I now own on a home equity loan? Also, my daughter tells me that I will lose all the equity in my home. Is this true?

Answer: There are reverse mortgages which provide a lump sum up in the form of a cash advance and others which are essentially a line of credit. Thus you could pay off the existing home equity loan with reverse financing.

As to your equity, with a reverse mortgage you are extracting value from your home that will be repaid when the property is sold or you are no longer the occupant. So yes, in a sense, you are "losing" equity -- but you are gaining cash.

Reverse mortgages tend to be expensive and a last financial choice. Before going further, please check with a local housing group or HUD counselor (800-569-4287) to assure that you are only considering a reverse mortgage product that does NOT include a claim against the growing value of your home. See if pro bono legal services are available to you from an attorney who specializes in elder law.

Also, consider selling the home -- it may be a better financial choice, especially if you can live with your daughter.

Question: Is there a current independent report comparing and rating the online home mortgage companies? Any other way to separate the trustworthy, competent, established from their opposite?

Answer: Given that virtually every lender has a website, I see no practical difference between "online" lenders and the traditional variety.

The best way to "rate" lenders is on the basis of local performance. Speak with local real estate brokers, settlement attorneys and recent borrowers. See who delivered a loan with promised rates and terms on time and without fuss.

Question: My boyfriend has been legally-separated for over a year. He wants to buy a house and my question is: Will this house be counted as a marital property went he gets his final divorce?

Answer: Are you in a community property state? There could be thousands of dollars of equity at stake here. Before going further, have your boyfriend get proper advice for your jurisdiction from a qualified attorney. The separation agreement will need to be reviewed.

Question: I just signed a contract to buy a house last month. We were supposed to close the house on Sept 16th, but the lender could not come up with a commitment letter from underwriting to approve the loan. So could I get my earnest money back?

Answer: If I were the seller I would not release the money without more information. For instance, were you required to apply for financing within a given time frame? If yes, did you?

Did you provide a qualification letter from a lender saying you could obtain financing for the property? If yes, why were you unable to get a loan -- did you in any way not provide the lender with correct information?

When did you know that the loan application would be rejected? Did you give the seller adequate notice so that the property could be promptly placed back on the market?

This column is designed to provide accurate and authoritative information in regard to the subject matter covered. It is made available with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services. If legal services or other expert assistance is required, the services of a competent professional person should be sought.