stay of execution: ARE LOAN MODIFICATIONS DESIGNED TO FAIL? - 05/28/10 06:29 AM
During the past few weeks we have been inundated with calls and e-mails from homeowners who were accepted for a loan modification agreement only to find their mortgage company pulling the plug on their agreement months later and now are facing foreclosure.  
Basically, the lender or servicer contacts the borrower (who is in default) offering to do a “loan mod” provided (a) the borrower submits certain paperwork, and (b) the borrower agrees to pay significant sums either toward the promised modification or in connection with a temporary forbearance while a more permanent modification is being processed. In reasonable reliance on … (0 comments)

stay of execution: How to prevent the bank from changing the locks on your listing this winter. - 09/10/09 12:03 PM
Another New England summer has come and gone and fall is once again upon us, which means colder weather in not so far away. For homeowners who are behind in making their mortgage payments or are possibly in foreclosure, it is important to know that this is also the time of year mortgage lenders hire property management companies to secure all properties they believe have been vacated or abandoned. Homeowners and real estate agents should be aware that if a home has been vacated or abandoned, there is a great likelihood that the lender will order a spot inspection to determine … (0 comments)

stay of execution: What happens when a lender can’t produce the original note? - 08/17/09 11:24 AM
*Please see the note on the bottom of this post for an updated comment.
A growing number of homeowners around the country are using a foreclosure defense that may help them retain their homes. It’s called “Produce the Note” (as also being jointly advocated by Terry Smiljanich and The Consumer Warning Network) and we want you to know this is not a mere technicality that should be treated lightly by mortgage lenders or by the Courts.
Everyone needs to understand the importance of this issue. When a lender can’t produce the original note, allowing a foreclosure to proceed puts the homeowner at … (156 comments)

stay of execution: Massachusetts Land Court Ruling Update & The Importance Of Title Insurance - 08/17/09 09:49 AM
Ibanez Land Court Ruling Update Our office has been inundated with questions concerning the recent Massachusetts Land Court’s decision that has the whole real estate conveyanceing world in a state of turmoil throughout the Commonwealth. These were mainly procedural issues that were not followed (or were improperly followed) during the foreclosure process. But, beyond the procedural issues, there are also the real issues of whether or not a foreclosing entity had the rights to foreclose in the first place (as I will cover in my next blog posting). Our office has received many phone calls and e-mails from real estate … (0 comments)

stay of execution: Help To Avoid Foreclosure - Temporary Stay of Execution - 02/18/09 03:13 PM
In response to overwhelming requests, a group is being formed as a public forum initiative to save Massachusetts and all American homeowners from the devastating effects of foreclosure. Join other real estate professionals across the country and be part of the FaceBook expierance today and become a member of the Massachusetts Foreclosure Prevention Group. Help stop this economic recession. Help put an end to the continuing foreclosure crises in this state and across our country. I ask that all real estate professionals and homeowners call on their elected officials to push for the enforcement of the "Help For Homeowners Act of … (0 comments)

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Rick Misitano

Defender of Homeowners

Lowell, MA

More about me…

Law Offices of James M. Bosco & Associates

Address: Methuen Executive Park, 240 Pleasant Street, Methuen, MA, 01844

Office: (978) 687-8804

Mobile: (978) 944-0218

Email Me

This blog has been created to help real estate professionals in the Commonwealth of Massachusetts better understand Short-Sales and other Pre- Foreclosure options available to their clients.




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