(MONEY Magazine) – Q. Within four weeks of buying my new house, I noticed water leaking from the master bathroom shower to the crawl space under the house. Two plumbers told me the problem had surely existed for more than a year and would cost $3,500 to fix. Don't I have recourse against the seller or the firm I paid $700 to inspect the home for me? Shahid B. Malik Rye, N.Y. A. Home ownership may be part of the American dream, but when the washer explodes and the furnace dies right after you move in, it seems more like the Transylvanian nightmare. In New York, as in most other states, if you don't ask the seller about a specific defect in a house, he or she is not obliged to volunteer it. (Only Arkansas, California, Kentucky, Maine, New Hampshire and Wisconsin require sellers to reveal ''known defects.") Even if you did ask about leaks, though, and the previous owner lied, you would have to hire a lawyer to prove that in court -- at a cost of, umm, could it be -- $3,500? As for the inspection firm, well, these guys have themselves covered or they would be in court day and night defending themselves against angry buyers. (In my case, an inspector missed the fact that a water heater was spewing noxious gases into the basement. The repair bill: $1,000.) Most firms have disclaimers in their contracts for certain inaccessible parts of the house, like crawl spaces. And they won't refund more than the fee you paid. My advice: Call the company and yell and shriek anyway, and have your lawyer send the seller a letter demanding reimbursement. Maybe they'll pay for some of the repairs to make you go away.

Q. I have $50,000 that I want to invest for retirement in 25 years at age 65. I have consulted brokers, insurance agents, accountants and acquaintances. Each one has an idea that sounds good -- until I talk to the next person. I'm driving myself crazy! I like mutual funds, but people are urging me to invest in ones that charge 5% to 6% loads. Are load funds really better than no- loads? How can I start investing sensibly? Sharon Inamoto Westchester, Calif. A. For openers, stop asking every Tom, Dick and Mary what to do. Already ! you're on the right track with mutual funds, because they give you diversification and professional management even though you don't have millions to invest. And you're asking the right questions, because there is absolutely no proof that load funds perform better than no-loads. Christopher Croft, an investment adviser in Palo Alto, recommends that you go for slow and steady growth by putting $20,000 in a growth and income U.S. stock fund, $10,000 in an intermediate-term tax-free bond fund and $5,000 each in an international stock fund, an international bond fund, a money-market fund and a real estate investment trust (REIT) fund. For some choices, see ''The Top- Performing Mutual Funds'' beginning on page 87 of our February issue.

Q. My Fort Lauderdale time-share has been listed for sale since last year with Independent Timeshare Sales of Orlando (the fee was $399), but I haven't had any offers. What can I do? Marleine Severe Brooklyn A. According to a recent survey by the Resort Property Owners Association, a consumer group in Northbrook, Ill. (800-989-0710), nearly 60% of time-share owners have been trying to sell their investments for an average of four years. And forget about walking away from the property: You could be sued for the maintenance fees you promised to pay. At least Clinton Burr, director of the consumer group, offers a little hope. He says your Orlando resale firm has more going for it than many others -- namely, five active sales offices employing a total of 78 people and a record of about three sales daily. Still, given the time-share glut, don't expect miracles.

Q. I would like to contribute to groups that are working to control population growth worldwide. I have donated to Zero Population Growth, but recently I received letters from two organizations I've never heard of: Californians for Population Stabilization and Population Communications International. How can I make sure these charities are good ones? William Enderson Redondo Beach, Calif. A. You might start by checking with the Philanthropic Advisory Service of the Council of Better Business Bureaus (4200 Wilson Blvd., Arlington, Va. 22203) and the National Charities Information Bureau (19 Union Square West, New York, N.Y. 10003). Both maintain lists of charities that meet standards for financial strength, low overhead, truthful mailings and so forth. Zero Population Growth is in good standing with both watchdogs (Arf! Arf!). But neither had information on the other two charities -- which doesn't mean they're not legitimate, just that not enough people have asked about them to warrant a full evaluation. We called the charities and discovered that Californians for Population Stabilization (926 J St., Suite 915, Sacramento, Calif. 95814) is a seven-year-old grass-roots group that works to limit population only in that state; thus it doesn't address your international concerns. And eight-year-old Population Communications International (777 United Nations Plaza, New York, N.Y. 10017) helps create soap operas and television programs that promote family planning around the world -- worthwhile work, no doubt, but a little removed from a hands-on solution. However, here are two blue-ribbon charities in the field named in our latest charity research (see ''Giving Wisely When the Need Is Great,'' December 1992): Planned Parenthood Federation of America (810 Seventh Ave., New York, N.Y. 10019) and the Population Council (1 Dag Hammarskjold Plaza, New York, N.Y. 10017).

Q. Three years ago, my wife and I signed up to invest $316 a month for 15 years in the Security Action Mutual Fund. Now the fund officials say they may merge it with Fidelity's Destiny II. Is this good news, or should we sell out? John R. Carlson Chula Vista, Calif. A. Actually, the merger took place in late March, but John Rekenthaler, editor of Morningstar Mutual Funds, says you ''should whoop with joy.'' The reason? Security Action, an 11-year-old fund that aims to invest in growth companies, has been a disappointment lately. During the three years to March 1, it returned an average of only 10.69% a year, as compared with 13.49% for its category average and 20.13% for Destiny II. Worse, Security Action -- like Destiny II -- is a so-called contractual mutual fund, in which you agree to deposit a set amount per month for a specified number of years. Such funds typically peel off a big chunk of your first-year payments -- in your case, 50% -- for sales commissions. That's why you have made only $19 profit on the $11,376 you have invested over the years, rather than the $2,610 you would have gained with a no-load fund earning the same return. Urk! If you ever get the urge to buy another contractual mutual fund, take a deep breath and sit down until your head clears.