Foreclosure Definitions
Additional Information on Massachusetts Foreclosures and Bank of America
PBS has a great interview about Bank of America’s foreclosure prevention plans for Massachusetts. Bank of America’s Foreclosure Fight Plan Wednesday, March 24, 2010 SUSIE GHARIB: Welcome relief today for some people who can’t make their mortgage payments if they’re with Bank of America. Tom, under pressure from state attorneys general, the bank agreed to [...]
Foreclosures Expected to Continue in Massachusetts
The worst of the foreclosure crisis that swept through the region in the past few years may be over, but the problem is not going away just yet. The number of foreclosures fell last year. Yet at the same time, lenders began the process of foreclosing on hundreds more homes in the area. High unemployment [...]
All about Foreclosure Short Sales
All about Foreclosure Short Sales Many homeowners are losing their homes to foreclosure. There are several steps involved in the foreclosure process, including ways to stop the foreclosure. These steps include refinancing with a loan officer, loan modification, selling the home, conducting a short sale or credit counseling agencies. Most states require a period of [...]
What are the Foreclosure Laws in Massachusetts?
The Commonwealth of Massachusetts laws that cover non-judicial foreclosures are found in Chapter 244 of the General Laws of Massachusetts. Both judicial and non-judicial foreclosures are covered under this statute. You can read the Massachusetts Foreclosure Laws. How are Massachusetts mortgages foreclosed? The primary method of foreclosure in Massachusetts involves what is known as non-judicial [...]
What is a Home Foreclosure – When and How Does it Happen?
It seems to me that a good starting point for the blog is a definition of a foreclosure. What is a Home Foreclosure? Foreclosure is the legal proceeding in which a mortgagee, or other lienholder, usually a lender, obtains a court ordered termination of a mortgagor’s equitable right of redemption. Usually a lender obtains a [...]