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foreclosure crisis: Facing Foreclosure - It's is Not an Excuse for Abandoning Your Pets! - 01/25/11 07:17 PM
This is a story that we have seen too often and one that I have written about previously.  It is one of irresponsible people treating animals as though they are unwanted pieces of furniture. 
In a recent article describing events in Granite Falls, Washington 31 dead "pets" were found in an abandoned foreclosed home.  I use the term pets guardedly since it is difficult to believe that anyone who regards an animal as a beloved pet would treat it in such a callous way. 
A 65-year-old woman owned the home and lived there with her 36-year-old son until they were forced to vacate the premises. The bank foreclosed … (26 comments)

foreclosure crisis: What a Difference a Foreclosure Makes - 07/21/10 05:45 PM
What a Difference a Foreclosure Makes 
A recent study by MIT and Harvard researchers revealed that a foreclosure reduces the value of a house by an average of 27 percent. 
MIT economist Parag Pathak and Harvard researchers, John Y. Campbell and Stefano Giglio examined 1.8 million home sales in Massachusetts from 1987 to 2009.  They came up with some revealing numbers on how dramatically a foreclosure can affect the value of a home as well as the value of all the properties surrounding it. 
They also contrasted the impact on value of foreclosures as compared to other events like the death of an … (7 comments)

foreclosure crisis: Massachusetts Foreclosure Rates Fall 25% - 01/26/10 10:24 PM
According to information released yesterday by the Warren Group, Massachusetts foreclosure rates have fallen 25% compared with 2008.  The report showed the number of foreclosures in the state 9,269 down from 12,430 in 2008. 
This, in no way, implies that the foreclosure crisis is over for Massachusetts. It is simply that any drop in these numbers is a possible step in the right direction. 
Unfortunately, there are still many people in this state who are having trouble making their mortgage payments, as 28,000 homeowners in Massachusetts who were served with foreclosure petitions have shown. A foreclosure petition is the first step … (8 comments)

foreclosure crisis: Citigroup Shows That it is not a Grinch - Suspending Foreclosures for the Holiday Season - 12/18/09 10:03 PM
In an attempt to show the public that it really does have a heart, Citigroup has pledged to suspend all foreclosures nationwide for 30 days, allowing otherwise distressed homeowners to spend the holiday season safe in their homes. 
The temporary stay will affect approximately 4,000 at-risk borrowers - 2,000 who are scheduled to have foreclosure sales and another 2,000 that were to receive foreclosure notices over the next 30 days. 
The company which is itself struggling to pay back state aid and come out of a massive taxpayer-funded bailout, is making the gesture to increase goodwill. 
"We hope that with this suspension we … (6 comments)

foreclosure crisis: The Administration's Foreclosure Program - In Need of Major Changes - 11/30/09 10:29 PM
With foreclosures still occurring in record numbers, the administration has announced that it will be making some changes to its "Home Affordable Modification Program." 
The original $75 billion Treasury program was put into effect to help potential foreclosure victims by enticing the banks to create loan modification programs for those who needed them.  Under the plan, lenders who agreed to lower payments for troubled borrowers were to be paid $1,000 initially for each loan.  That was to be followed by $1,000 annually for up to three years. 
It was all part of the government's $700 billion financial bailout  aimed at providing incentives for … (59 comments)

 
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Claudette Millette - Metrowest Mass Buyer Broker

Ashland, MA

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