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foreclosures: A Foreclosure in the Neighorhood Can Drive You Batty - 04/02/11 02:07 PM
A foreclosed property in the historic district of Tifton, Georgia has been sitting around vacant for far too long. As a result, an estimated 10,000 to 20,000 Mexican free-tailed bats have made it their home. Via the Tifton Gazette.
Local code enforcement has posted a sign on the door declaring it unfit for human habitation and city officials are scrambling to come to a solution to the problem. The cost to eradicate 20,000 bats from and to then scrub it clean from what they have left behind will, more than likely, be enormous.
An animal removal service in the area described the situation as … (41 comments)
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foreclosures: Massachusetts Banks cut Foreclosures by 40 percent - 12/30/10 10:27 PM
Massachusetts Banks cut Foreclosures by 40 percent
Last year at this time, banks in Massachusetts seized 702 homes. Compare this with 416 homes in the same month of this year. The reason? Concern over some of the questionable business practices that have taken place recently.
Many people who had been scheduled to be out of their homes by this time have had a reprieve. Their foreclosure dates have been postponed for months.
According to an article in the Boston Globe today, paperwork issues, controversial procedures and even possible fraudulent practices have stopped lenders from completing foreclosures on many Massachusetts residents.
Delinquent borrowers are not permanently … (8 comments)
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foreclosures: A Foreclosure Case Can Drag on for Twenty-five Years - 12/12/10 02:31 PM
A Foreclosure Case Can Drag on for Twenty-five Years
At least that is what one Florida woman has managed to accomplish.
Patsy Campbell, a 71 year old retired insurance saleswoman has not made a mortgage payment on her home since October 1985. Yet, she has been living in the two-story dwelling set in a middle-class neighborhood since 1978.
How is this possible? It seems that Florida has a law which has helped to shield her from all of her creditors. And, according to an article in the Wall Street Journal, Ms. Campbell has even formally questioned whether there actually was a real debt … (20 comments)
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foreclosures: Squatters - Moving In on Foreclosed Mansions - 09/24/10 12:20 PM
In a sign of the times, the trend of high-end squatting seems to be the current rage. The housing bust has left thousands of mansions unattended and vacant and those who would be homeless are moving in.
The most high profile squatters to date have been actor Randy Quaid (brother to Dennis Quaid) and his wife, Evi. The Quaids were recently arrested for living in a guest house, now foreclosed on that was once part of their property. Against their insistence that they really did belong there, they were taken away in handcuffs, booked and held until they were able to … (22 comments)
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foreclosures: Landlords Agree to Lower Rents for Struggling Tenants - 11/02/09 10:40 AM
In another sign of the times, a new survey done by The National Association of Independent Landlords shows that 69 percent of landlords are now willing to lower the rent for struggling tenants when asked.
With money tight many renters are having a tough time making their monthly payments. Some property owners who are also in difficult situations have a preference for working out deals with otherwise good tenants to avoid the trouble and expense of finding new renters.
Since landlords are equal victims of the recession, nearly 32% report that they have lowered rents over the past 18 months. They too are struggling to pay their mortgages and cover overhead … (45 comments)
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foreclosures: Massachusetts Housing Market – Looking Better? - 09/29/09 06:39 PM
The number of home sales in Massachusetts rose slightly in August while the rate of foreclosures fell sharply.
In what some may say is a signal of this region's housing market recovery, sales of single-family homes rose two percent for the second consecutive month.
"This is a modest increase in single-family homes sales, but the fact that sales have improved for two months straight after declining steadily for the first half of the year, is a hopeful sign," said Timothy Warren, CEO of The Warren Group whose company provided this data.
Warren went on to say that the state's unemployment and … (7 comments)
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foreclosures: Will the Cap and Trade Bill Have an Impact on Housing Sales? - 09/25/09 10:55 PM
In the interest of creating a better environment, new legislation that is along the lines of the Waxman-Markey Cap and Trade Bill is scheduled to be unveiled by the end of the month. The bill will include language for a new National Building Code calling for homes to be more energy efficient.
With regard to new construction, there have been some notable innovations in green building designs and the use of these should be encouraged in new homes.
However, according to a recent article, the proposed code has a provision which would mandate that all housing transactions be required to undergo … (123 comments)
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foreclosures: The Furry Side of Foreclosure - 09/23/09 03:22 PM
The ever-rising number of foreclosures has created a new term in the real estate lexicon: "foreclosure pets."
Not only are distressed property owners suffering as they are being forced to vacate their homes but also a growing number of cats and dogs are being left to fend for themselves.
The Society for the Prevention of Cruelty to Animals estimates that over 1 million pets will be placed for adoption this year alone due to foreclosure. Families who have left their homes and have entered the rental market often find that with their new landlords, pets are not welcomed.
This requires distressed … (10 comments)
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foreclosures: Tapping the TARP - Will it Help the Housing Market? - 01/16/09 12:17 PM
Barack Obama has asked for and has been granted the release of the second $350 billion from the Troubled Asset Relief Program funds to the treasury.
The request had been met with some debate from lawmakers, some who have argued that the first $350 billion were largely wasted and that there has not been enough transparency to show if and how the bailout program has worked.
Originally sold as a two-step rescue program, TARP was designed for the government to buy Wall Street's failing mortgage investments and then to rewrite those loans to help homeowners.
Much of the first half … (0 comments)
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foreclosures: Is a Short Sale Right for You? - Massachusetts Blog - 01/10/09 10:17 PM
As foreclosure rates soar, some lenders are eager to negotiate short sales in order to avoid the expense of seizing a delinquent borrower's property. A short sale is one in which the seller is trying to get the bank to accept an amount that is lower than what is owed on the property. This will be a home that is facing foreclosure due to the fact that the homeowner is in financial distress. In fact, a bank will usually only agree to a short sale if the borrower can prove a case of hardship, often due to a job loss or a major … (0 comments)
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foreclosures: Bargain Hunters Come Out for Home Deals - 11/28/08 02:55 PM
We are all painfully aware that there has been much gloom lo these many months of depressing housing data including recent numbers by the Commerce Department that showing new home sales have fallen to their lowest level since 1991.
However, I choose to take good news where I can get it. New housing reports from the Warren Group, indicates that, while prices continue to drop, there has been a healthy pickup in the number of single-family homes that have been sold recently in Massachusetts.
Sales in October 2007 were 3,253 and in October 2008 had an increase to 3,698.
A combination of events … (0 comments)
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Claudette Millette - Metrowest Mass Buyer Broker
Ashland,
MA
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