Category: Foreclosure

It may seem hard to believe, but it has been seven years since the financial crisis of 2007. The repercussions from that crisis were felt in various industries, including the housing market, and long-lasting. Indeed, the economic recovery has been years in the coming. Nevertheless, the seven-year marker is significant because many homeowners who lost...

In recent years, lenders may have allowed a grace period for homeowners struggling with delinquent mortgage payments. However, that safety net has apparently been removed, considering that foreclosure filings in Massachusetts have increased by 91 percent from October 2013. In fact, foreclosures have been on the rise for eight consecutive months in the state.

A...

Although a lender may have a legal right to collect on its secured interest, many equitable considerations also come into play what the property at issue is a principal residence. For that reason, state lawmakers have codified the procedures for foreclosure and redemption of mortgages in Massachusetts. For both buyers and sellers, it is...

Massachusetts Attorney General Martha Coakley has become involved in an area of real estate more typically reserved for real estate attorneys: foreclosure sales.

Specifically, Coakley brought lawsuits against two federal mortgage agencies -- Freddie Mac and Fannie Mae -- for their alleged refusal to sell homes in foreclosure to various nonprofit groups committed to helping...

Although a real estate attorney is usually called upon in the front-end of a deal, a recent story suggests that a legal professional could also provide counsel to residential or commercial owners facing foreclosure. Specifically, the Federal Reserve recently issued a report indicating that around 83 percent of borrowers across the country have been compensated...

According to recent data, the number of foreclosures in Massachusetts may be declining. Compared to last year, the number of foreclosure petitions filed in February of this year was down 48.7 percent. In fact, monthly foreclosure petitions have been less than their previous year’s counterpart for 16 consecutive months. Commentators credit improvements in the housing...

When Massachusetts residents fall behind on their mortgages they have many reputable options to turn to for finding financial guidance and support. Unfortunately, some dishonest individuals and organizations do exist and prey on struggling homeowners when they are most in need of help. Often times victims do not know they have been scammed until...

There are always risks inherent to buying or selling properties on the residential real estate market but most Massachusetts residents believe that once they get through the closing process, the negotiating drama should end. For some individuals who purchased foreclosed properties in the past, new issues arose when the Massachusetts Supreme Judicial Court voided...

There is no question that many Worcester families have been hit with the overwhelmingly hard realities of foreclosure. As previously discussed on this blog, the community has formed groups and proposed anti-foreclosure measures specifically aimed at keeping local families in their homes. Other communities around the country have tried similar methods of stopping foreclosures...

In what has become an ongoing debate between the city council and the city manager, the city of Worcester has taken one more step toward approving a mandatory foreclosure mediation program for some struggling homeowners and their lenders.

The mandatory foreclosure mediation program, which has been strongly supported by the community's Anti-Foreclosure Team, was preliminarily...