Owners who were foreclosed upon pass the seven-year itch

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...
Continue reading…

Do foreclosures present an investment opportunity?

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...

Continue reading…

Tips for responding to a foreclosure notice

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...
Continue reading…

Massachusetts foreclosure petition filings continue to decline

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...
Continue reading…

Foreclosure scams still a part of real estate market

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...

Continue reading…