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Real Estate Foreclosures on Cape Cod – Some Are Good Buys
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 a solution between the borrower and the lender have stalled at best.
 
Once the Order of Notice is filed in MA, the borrower can still correct the deficiency, but it becomes harder and more expensive because of added legal costs and fees. Keeping in mind that you are following another owner’s misfortune, researching the recordings in the registries of deeds in MA can help track which properties might provide the best opportunity for a buyer. Finding the face amount of the loan being foreclosed, subsequent or additional loans, orders of conditions, other liens, etc., will be helpful in determining the ... more

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