Foreclosure

Large Inventory of Foreclosures in Massachusetts Just Now Coming to Auction

September 14, 2016

Foreclosure auctions in Massachusetts were up 44 percent over the first seven months of this year, as compared to the same period in 2015. David Cotney, the Massachusetts Commissioner of Banks, told MassLive that the state is currently “having to clean out a large inventory of mortgages that have been in default for years.” Massachusetts […]

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What is a “Boomerang Buyer?” Buying a Home Following a Short Sale or Foreclosure

September 12, 2013

This past March, Money Magazine claimed that the real estate industry was back. Home Prices had increased in 92 of the country’s largest 100 metropolitan areas, interest rates were in the 3’s and the number of homes for sale was at the lowest level in a decade. While interest rates have risen more than a […]

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Five Things To Avoid When Writing Your Short Sale Hardship Letter

June 25, 2011

When working with Massachusetts short sale candidates, the most daunting task always seems to be writing the hardship letter. All homeowners requesting a short sale are required to provide the lender with a hardship letter. The hardship letter is your best, and only, opportunity to explain to the lender why you are no longer able […]

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How Does A Short Sale Affect Your Credit Score?

April 7, 2011

Foreclosure vs. Short Sale: Which Option Is Best For My Credit Score? As someone who deals with homeowners facing foreclosure on a daily basis, I am often asked whether a short sale or foreclosure results in more damage to your credit. Unfortunately, there is no straight- forward answer. The reason why this is such a […]

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SELLERS

March 2, 2011

Are You a Homeowner Struggling to Make Your Payments? The possibility of losing your home because you can’t make the mortgage payments can be terrifying. Regardless of the reason for your current financial situation, there are plenty of free options available. The U.S. Treasury department and the Department of Housing and Urban Development (HUD) offer […]

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SHORT SALES

February 23, 2011

Massachusetts Short Sales As someone who exclusively handles Massachusetts short sales, I am repeatedly asked the same questions from both homeowners and Realtors when considering a short sale.  As more homeowners default on their mortgages, I believe it is important to dispel some of the short sale myths that give these often misunderstood transactions a negative […]

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The Ibanez Effect: Foreclosures, Securitization and Short Sales.

February 14, 2011

Early in 2011, the Massachusetts Supreme Judicial Court (SJC) approved a lower court ruling that called into question the validity of thousands of foreclosures throughout the Commonwealth. In US Bank vs. Ibanez, the SJC held that the lender did not have the legal authority to foreclose because they couldn’t actually prove that they owned the mortgage.  Specifically, […]

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Homeowner Beats Bank of America in Small Claims Court

January 6, 2011

A California homeowner sued Bank of America(BOA) in Small Claims Court after they denied his modification request and initiated the foreclosure process. Dave Graham, who lives in California, applied for a loan modification under the Obama administration’s Home Affordable Modification Program (HAMP), which is supposed to give eligible borrowers a “permanent” five-year modification if they make […]

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Lenders, Servicers Scramble To Shift Foreclosure Cases To New Firms

December 17, 2010

News came out this week that foreclosures fell in November to their lowest levels in the past 18 months (http://tiny.cc/92wrq). This seemingly positive data is clearly a result of the foreclosure freeze enacted by most banks following the revelation that lenders improperly handled millions of foreclosure cases. As lenders and loan servicers scramble to correct […]

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Boston Foreclosure Fighters: ‘Banks Are Deceptive In Hosts of Ways’

December 9, 2010

It is no secret that lenders’ foreclosure practices have been placed under the magnifying glass since the recent revelation that the banks’ use of robosigners called into question the validity of millions of foreclosures throughout the United States.  Recent news out of Boston focuses on a ‘host’ of deceptive practices banks are using in order […]

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