Archive for June, 2010
House Foreclosures sell at 30% discount Nationally
Foreclosures accounted for a third of all sales — and sold at a nearly 30% discount — during the first three months of 2010. According to a new report from RealtyTrac, the marketer of foreclosed properties, 31% of all sales were foreclosures. And homebuyers purchasing those properties paid a whopping 27% less, on average, compared [...]
Massachusetts Foreclosure Petitions Decline Year Over Year and Month Over Month
Lenders initiated fewer foreclosures in Massachusetts in May than they did a year ago and in the prior month, according to a new report from The Warren Group, publisher of Banker & Tradesman. Foreclosures petitions, which mark the first step in the foreclosure process in the Bay State, fell 9.4 percent to 2,110 from 2,329 in [...]
Boston Foreclosure Scams Targeted in New Initiative
Homeowners struggling to make mortgage payments beware: Some people promising help just want to grab your scarce dollars. That is the key message of a campaign launched in Massachusetts on Monday to alert homeowners to the proliferation of loan modification schemes nationwide. The campaign, backed by local, state, and federal agencies, urges owners not to [...]
Massachusetts Gas and Convenience Store Foreclosure Auctions
Tranzon Auction Properties, with corporate offices in Portland, Maine, announced today that it has been engaged by TD Bank to market and auction 16 gas and convenience stores stretching from Southern New Hampshire to South-Eastern Massachusetts. “We’re marketing these properties locally, regionally and nationally to alert interested parties of the sales scheduled to start on June 21st and run [...]
Foreclosure Auction at 36 Plain Street, Middleboro, MA
Foreclosure Auction at 36 Plain Street, Middleboro, MA Got Space? Got Land? Got Privacy? You will if you move here! Fantastic North Middleboro location. This house has it all. Perfect for extended family living. Farmers Porch, Master bath features Steam Bath and Jacuzzi Tub. Huge bonus room over garage w/reinforced beams will keep everyone entertained. 2 [...]
Poloroid Foreclosure in Waltham Sold at Auction
The former campus of Polaroid Corp. on Route 128 in Waltham has been purchased for $40 million by Boston developer Sam Park & Co. The status of the 120-acre parcel has been uncertain since late 2009, when bankers foreclosed on plans to build The Commons at Prospect Hill, an ambitious development of offices, shops, and [...]
Massachusetts Foreclosure Data and Statistics
Foreclosures are spreading like wildfire in the suburbs. And while sad as this wave of distress is, it may provide some buying opportunities in our perpetually overpriced Greater Boston market. I spent time last night studying a foreclosure spreadsheet covering most of the towns and cities across our metro area put together by RealtyTrac. The [...]
Massachusetts Foreclosure Option: Stop Paying
Foreclosure has allowed them to stabilize the family business. Go to Outback occasionally for a steak. Take their gas-guzzling airboat out for the weekend. Visit the Hard Rock Casino. “Instead of the house dragging us down, it’s become a life raft,” said Mr. Pemberton, who stopped paying the mortgage on their house here last summer. “It’s [...]