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 [...]
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 [...]
Bank of America To Help Avert Massachusetts Foreclosures
I’ve been rough on Bank of America (BAC) in recent months over its failure to help struggling homeowners avoid foreclosure. So it’s encouraging to see the financial giant saying that it will begin reducing the principal balance on mortgages for eligible borrowers. Cutting loan balances is perhaps the best way to keep people in their [...]
October Warren Report on Massachusetts Foreclosures
Statistics regarding foreclosures in Massachusetts for the month of October were a mixed bag of news, according to Timothy M. Warren Jr., CEO of The Warren Group. According to the latest report released by the Warren Group, a provider of real estate data in New England, foreclosures in Massachusetts rose nearly 30 percent in October [...]
More Massachusetts Foreclosures for 2010
Looks like the foreclosure mess won’t be going away anytime soon. Just as all the hoopla over the extension of the home buyer tax credit starts to fade, along comes the The Mortgage Bankers Association to bring the market back to reality. One in seven loans is now in foreclosure, up from one in ten [...]
Boston Works To Keep Renters in Foreclosed Homes
The Boston Redevelopment Authority and the Department of Neighborhood Development are working together to keep tenants in foreclosed homes throughout Allston-Brighton. The BRA has used funds earned through its leased properties around the city to purchase five foreclosed homes from the Bank of America as a way to revitalize neighborhoods and limit the impact of [...]
Bus tour highlights effects of foreclosures in Brockton Massachusetts
People here say they feel helpless and trapped. There have been more than 1500 foreclosures here in the past five years – some of it questionable lending practices – and there was anger tonight against banks. Most people are looking to find a way out. The bus says “All Occasions” and this one is a [...]