Archive for October, 2009
Buying a Massachusetts Foreclosure Property
Thinking of buying a home? Act before year’s end and you just might be able to make the most of the glut of foreclosed properties currently up for sale. That’s because, while banks traditionally have been unwilling to come down on the list prices of foreclosed properties, a year-end push to clear their books of [...]
Massachusetts Foreclosure Default Notices on the Rise
Rising unemployment and more adjustable-rate loans resetting to higher monthly payments are boosting foreclosure filings in the region. The number of homeowners in the Boston metropolitan area who received default notices – the first step in the foreclosure process – swelled to 7,962 in the third quarter, a 19.4 percent increase over the same period [...]
Massachusetts Foreclosures fall by 30% year over year; Foreclosures in Massachusetts Rise 4% Over Quarters
The number of Bay State residents whose homes were seized by lenders increased from July through September compared to the previous quarter, but foreclosures have declined by nearly 30 percent year-over-year, according to a new report by the Warren Group. “Lenders are facing pressure from federal leaders to offer loan modifications to troubled homeowners, and [...]
Late Leap in Massachusetts Foreclosure Rates
The Bay State may not be a national leader when it comes to the foreclosure epidemic. That honor still rests with such boomtown states gone bust as Nevada, Arizona and California. That’s the good news. But let’s not get smug here. The latest numbers from RealtyTrac are out, and they don’t look good for Massachusetts. [...]
Polaroid Foreclosure Auction in Massachusetts Fails to Draw Bids
The future of a proposed $500 million development at the former Polaroid Corp. headquarters in Waltham remains murky after a foreclosure auction Friday failed to garner any acceptable bids on the property. The auction was held by Helaba, the German bank that holds the first mortgage on the property. Helaba itself ended up buying the [...]
Massachusetts Foreclosure Sales Could Be Invalidated
A Massachusetts Land Court justice’s ruling today puts into question the ownership of hundreds — and possibly thousands — of foreclosed properties in the state. Justice Keith C. Long affirmed his own March decision that invalidated foreclosure proceedings involving two Springfield homes because the lenders did not hold clear titles to the properties at the [...]
Cambridge Foreclosure Listing | Cambridge Mass. Foreclosure Listing
Charlesgate Realty just listed a bank owned luxury condo for sale at 10 Museum Way (The Regatta). The pre-foreclosure price for this two bedroom condo was $539,000.00 and was on the market for a year. It has been re-listed on MLS, now that the bank owns it, with an asking price of $430,000.00. The address [...]
WBUR Report on Massachusetts Foreclosures and Massachusetts Foreclosure Auctions
Jon Davis handles 10 percent of the state’s foreclosure auctions. The Marshfield lawyer has been watching these auctions migrate from places such as Dorchester and Lowell. “Now you’ll see them in the Sudburys, the Hinghams and the Westons,” Davis said, “where you wouldn’t have in the past expected to see foreclosures.” The reason for these [...]
North Shore Music Theatre Foreclosure Sale Results
BEVERLY, MASS. – Gone, in less than two hours. Well, sort of. In today’s 1 p.m. auction of the North Shore Music Theatre on Dunham Road in Beverly, Citizens Bank, the holder of the primary mortgage on the property, was the winning bidder, so to speak. So, essentially, nothing has changed. In a process that [...]