foreclosure: Real Estate Foreclosures on Cape Cod – Some Are Good Buys
- 08/13/17 11:33 AM
Real Estate Foreclosures on Cape Cod – Some Are Good Buys
Real Estate Foreclosures on Cape Cod are often the topic of buyers who are looking for a deal on real estate. The problem is that many of the foreclosures in the past were problem properties. In today’s real estate market, however, there are some special possibilities that could actually be good opportunities.
In July of 2017, there were 32 Order of Notice filings in the Barnstable Registry of Deeds. The Order of Notice is the first publicly formal step in the Massachusetts foreclosure process. By this time, all efforts to work out … (1 comments)
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foreclosure: Real Estate Foreclosures In MAssachusetts - Finding Them
- 02/06/15 11:50 PM
Real Estate Foreclosures In MAssachusetts - Finding Them
Finding foreclosures in MAssachusetts is a matter of knowing how and where to look - and then what to do next. If you know how to look for pre-foreclosures, you may be able to find owners who would like to sell instead of being foreclosed on. But not all foreclosures or pre-foreclosures are worth spending time researching.
In MAssachusetts, anyone can find details for any property - if the seeker knows where to look and what to look for. One thing that can be found is a document that is required in order for a mortgage … (1 comments)
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foreclosure: Congressman Explains MERS and Mortgage Fraud
- 01/10/11 05:50 AM
I ran across this video while reading articles related to the latest MA Supreme Court decison reversing a few foreclosures. Congressman Alan Grayson explains what MERS is and elaborates the ways that current foreclosures in Florida and across the US are being done incorrectly. The video is almost 8 minutes and I think it is worth watching - especially if you aren't sure what MERS is.
The problem that is now the 800 pound gorilla is: How do we fix the problem? Congressman Grayson indicated that there may be fraud in some cases, and that there has been an organized … (0 comments)
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foreclosure: 3 Ways To Help Slow Or Stop A Foreclosure
- 03/04/10 01:32 AM
This is a touchy subject. There are many people who just need a little more time to keep their home. And there are others who can't be helped at all.
For those who just need some time, or who are looking for ways to slow and possibly stop a foreclosure, here are three common ideas that bear research:
There is an organization called Hope Now. This is a good place to start. Their goal is to provide information on programs. Their web pages open with videos, so turn your sound down if you are at work. They can be called at … (1 comments)
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foreclosure: Borrower Bulldozes His House When Bank Reportedly Refuses A Payoff!
- 02/24/10 04:10 AM
Oh My Goodness! There has to be more to this story than what I read and watched in the videos! The reporters have written that this borrower/owner bulldozed his house when the bank would not accept a sale. As a professional, I wish the reporters had asked more questions, so more of the circumstances could be understood.
For example, was the $170,000 offer he had from a buyer enough to pay off the mortgage or was it a short sale? The article says that he owed $160,000. If he was behind and there were already legal fees, then the $170K may not have been enough … (2 comments)
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foreclosure: Is It The Property? The Value? Or the Payment? That owners are distressed over.
- 01/09/10 06:16 AM
Here's a question: Why aren't the mortgage servicing companies pushing to get more modifications? The answer might be because they are servicing this note, and will probably service the new one, too - they get paid either way. So who benefits from a loan modification?
The problem for many owners of property may not be the house or the value, as much as it is the payment. With layoffs and decreased incomes, many people would stay in their house if they could afford the payment. Some owners are only trying to get the payment reduced to a level that they can pay. Their … (7 comments)
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foreclosure: Is It The Property? The Value? Or the Payment? That owners are distressed over.
- 01/09/10 06:15 AM
Here's a question: Why aren't the mortgage servicing companies pushing to get more modifications? The answer might be because they are servicing this note, and will probably service the new one, too - they get paid either way. So who benefits from a loan modification?
The problem for many owners of property may not be the house or the value, as much as it is the payment. With layoffs and decreased incomes, many people would stay in their house if they could afford the payment. Some owners are only trying to get the payment reduced to a level that they can pay. Their … (3 comments)
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foreclosure: MA Court Rules That A Foreclosure May NOT Be A Foreclosure!
- 10/16/09 07:13 AM
Massachusetts has joined the list of states with "foreclosure confusion". A judge ruled yesterday that because a bank did not prove it owned a couple of loans before it foreclosed on them, the foreclosures are not valid! Oops - to say the least.
In one of my blogs last year: http://activerain.com/blogsview/525644/More-Foreclosure-stuff-MERS-Mystery I tried to summarize what my research on MERS had shown me. It seems that these two loans were both examples of that kind of "lost paperwork".
This judge's decision raises some questions. 1) If banks now have to prove ownership before they foreclose, will that delay the foreclosure process? 2) If … (0 comments)
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foreclosure: Facing Foreclosure? This is a MUST watch video from CNN!
- 02/06/09 06:23 AM
If you or someone you know (like a past client) is facing foreclosure, you must watch this video. http://www.youtube.com/watch?v=YUZdANb6UaY It is a CNN report that has been around since last year! The more I look for information the more I am amazed! If the banks are going to keep the TARP money, try to keep your house!
In another news report FROM THIS YEAR, a US congress woman is seen on the floor of the House advising giving advice to Americans who are facing foreclosure. She has advised people to ask the foreclosing entity, or better still to have an attorney ask the … (6 comments)
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foreclosure: Update on what happened at the MA foreclosure help day in Foxboro last week
- 08/19/08 12:13 AM
In a previous blog I noted that there was an event scheduled at Foxboro Stadium to provide face to face meetings with property owners in New England and mortgage service representatives. I attended the event to meet with a few servicers myself and to see what the event was like.
There were a few thousand people there. The event was organized and provided lectures about credit, budgeting, and work outs for everyone while people waited to speak with a rep from their company.
I was there for 6 hours because I had so many people to speak with, but if I had only needed to … (4 comments)
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foreclosure: MA Foreclosure Help ONE DAY ONLY at FOXBORO STADIUM!
- 08/11/08 03:52 AM
There is a HUGE foreclosure prevention workshop in MA tomorrow at FOXBORO STADIUM! It seems that banks from all over have decided that a one day event to help people facing foreclosure will take care of their (the banks') obligations to try and "work out" loans that are in danger of becoming complete foreclosures. The event runs from 1pm to 8pm. You can even ride the T and/or commuter rail for free if you show the flier from the web site below!
The web site that you can get info from is www.TheInformedHomebuyer.org . It has some basic info and an 800 # you can call … (3 comments)
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foreclosure: Helpful information about recent MA foreclosure process changes.
- 08/09/08 08:18 AM
If you or someone you know is facing foreclosure of their MA real estate, there is a little help coming from the state. In April of this year (2008), banking commissionser Antonakes placed a letter on the state website at the address below. The letter is an interesting additional step that the state seems to have added to the foreclosure process.
The letter states that the foreclosure process has to include an online filing on the state's website. This has not historically been part of the process in MA. The letter says in part, "all financial entities with a benefit or interest in … (0 comments)
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foreclosure: Pre-foreclosures on Cape Cod (Wareham, MA)
- 05/15/08 07:14 AM
Wareham Massachusetts used to be the "gateway" to Cape Cod. When traveling from Boston, Connecticut, New York, Rhode Island, one used to have to go through Wareham. Now, the road bypasses Wareham and goes straight to the Bourne Bridge and into Bourne.
Wareham is bounded by Bourne, Carver, Plymouth, Rochester, Middleboro, and Marion. Buzzard's Bay is the access to the Nantucket Sound and the ocean for Wareham.
On May 15, 2008, I did some research on pre-foreclosures in Cape Cod towns. Wareham still likes to say it is part of Cape Cod, but today, it is considered "off Cape" by Cape … (2 comments)
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foreclosure: Pre-foreclosures on Cape Cod (Chatham, MA)
- 05/13/08 01:49 AM
Chatham is in the Lower-Cape area of Cape Cod. It is bounded by Harwich and Orleans. Half of the properties in Chatham are second homes (50%+-). Chatham has beaches on both Nantucket Sound and on The Atlantic Ocean. Even with its high second home percentage, Chatham has very few of its homes in pre-foreclosure as of May 6, 2008 which is probably because Chatham has traditionally been a place of upperclass incomes and "older money" families' second homes.
On a side note, the Lower Cape area is called the Lower Cape instead of the Outer Cape or Upper Cape because of … (0 comments)
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foreclosure: Pre-foreclosures on Cape Cod (Brewster, MA)
- 05/12/08 11:31 AM
Brewster, Massachusetts is one of the more quiet towns on Cape Cod. There are good beaches and lots of trees in Brewster, but I have always thought of Brewster as a town on the way to the National Seashore. Brewster has a few summer developments like Mashpee has New Seabury. Nickerson State Park is in Brewster and the beaches in Brewster are on the Cape Cod Bay side of the Cape.
The Brewster properties made up only a small percentage of the just over 1900 properties in the pre-foreclosure stages on Cape Cod on May 6, 2008. About 40% of homes … (0 comments)
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foreclosure: Pre-foreclosures on Cape Cod (Barnstable)
- 05/06/08 04:37 AM
There are just over 1900 properties in the pre-foreclosure stages on Cape Cod on May 6, 2008. This may sound like a lot of property, but this is only a small fraction of real estate on the Cape. There are some pockets of activity that are easy to understand and small pockets of activity that show no class is immune to the national real estate issues.
Barnstable and Falmouth are the two largest towns on Cape Cod, so of course, they have the highest number of properties in this list. But looking at the number of pre-foreclosures with respect to … (0 comments)
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foreclosure: MA Attorney General Laws "freeze" foreclosures for 90 Days
- 05/02/08 03:51 AM
The MA Attorney General has enacted a "freeze" on foreclosures in MA for 90 days, starting May 1, 2008. I have ben told that the attorney general found that most people in danger of foreclosure (up to 70% of them) either don't contact the lender or won't contact the lender to try to work out an arrangement/solution. So, the office took steps to make sure that the lenders are doing all they can to get owners to talk to them and work something out, before the foreclosure can proceed.
The effort is to try and minimize the number of foreclosures by communication … (3 comments)
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foreclosure: Is this a Foreclosure Solution?
- 03/31/08 05:11 AM
So, here is an idea for mortgage companies. Instead of foreclosing on a property, what if you rewrite the loan in the following way:1) keep the principle amount the same.2) lower the rate to today's lower rate.3) and ammortize for 40 years.
Why?1)A) principle of the note stays the same for the future payoff. 1)B) Keeping the principle the same means that the borrower needs to stay in the property until the market re-appreciates to the value of the principle to avoid selling at a loss. This means more people will stay put, and at the same time, be able to pay … (4 comments)
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Real Estate Foreclosures on Cape Cod – Some Are Good Buys
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