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Foreclosure in 02116 : Real Estate Advice

  • All17
  • Local Info0
  • Home Buying2
  • Home Selling3
  • Market Conditions0

Activity 33
Sat Apr 13, 2013
Mathew Ames answered:
You can do anything you want.......except buy this property RIGHT NOW.
0 votes 4 answers Share Flag
Fri Apr 12, 2013
Rich Homer answered:
Best next action is to ask a local Real Estate Broker by clicking "Find a Pro" in the main menu at the top of this website.
0 votes 9 answers Share Flag
Mon Oct 29, 2012
Ron Thomas answered:
The Assessed value is seldom a good guide to the Market Value; in some areas, the assessment may be years-old. Also. some Counties are run very efficiently and have surpluses; they do not need to raise property taxes.

You could bet that the LISTING PRICE will include allowances for the repairs; but you shouldn't bet your savings on it: Have your Realtor do a CMA to determine the Market Value.
You can talk to your Mortgage Broker about leveraging your present house.

Good luck and may God bless
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0 votes 14 answers Share Flag
Fri Sep 21, 2012
Sarah Goulart Nathe answered:
The checks are cashed and deposited at the execution (signing by all parties) of the P&S. This will always be the case - bank owned or not.

What your realtor is telling you is most likely true. Even in my office, our checks are not cut from the actual office, but from headquarters. So, it can take a week to two to get a check back when a deal falls apart. Have you received a signed release from the transaction from the bank? ... more
0 votes 9 answers Share Flag
Tue Jul 17, 2012
Ruth Malkin answered:
This is posted under Boston. Are you buying a home in CA or MA?
0 votes 5 answers Share Flag
Tue Jul 24, 2012
Andrew Adams answered:
The homes value doesn;t change based on your credit profile. It sounds like they dropped the price ($100 Less), although if it's $100 and not $100,000 I don't know that I would consider that a price drop.

The real question is why did the financing fall through on the property the previous 3 times. It is my experience that properties do not sell for 1 of 2 reasons. The price or the property condition. The property has been under agreement 3 times so I am guessing the price is not the issue.

If the property condition is the issue with financing, 25% down won't eliminate those issues.

You need to find out why the other loans did not go forward...If they all fell apart because the buyers did not qualify, I would love to get an introduction. There is real value in having a lender you trust pre-approve potential buyers.
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0 votes 9 answers Share Flag
Tue May 22, 2012
Ted Duncan answered:
She needs to talk to a local attorney, or contact a Realtor that can help her look up public records.
0 votes 3 answers Share Flag
Thu Feb 9, 2012
Christopher Lefebvre answered:
Eric, I would recommend working with a local buyer's agent here in Boston to help you locate properties that fit your needs. If you are in San Fran, these days it is easy to work remotely with agents via the internet and video conferencing. I would recommend taking a trip out once your agent has found several homes that you like on "paper." Also, this site has a quick and easy distressed property search for Boston. Let me know if you would like a recommendation for a reputable local buyer agent. ... more
0 votes 1 answer Share Flag
Wed Jul 11, 2012
Scott A. Nelson answered:
If you go to the Massachusetts registry of Deeeds website you can look up the property and see the filings for foreclosure. You might be able to find out the mortgage owners nominee and attorney office involved in the proceedings. Then go from there contacting them directly.

Hope that helps,
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0 votes 7 answers Share Flag
Mon Sep 26, 2011
Eric Hanlon answered:

You have options! Contact the good people at GBLS. Perhaps, they can help you do what is called a deed in lieu of foreclosure. A deed in lieu of foreclosure transfers title to the subject property back to the bank instead of going through the foreclosure process. You can't do this if you have a second mortgage, but regardless, call the Greater Boston Legal Services ( GBLS ) . I'm sure that they can help you. Here is their address, phone numbers, and their website:

Greater Boston Legal Services
197 Friend Street
Boston, MA 02114 Map
800-323-3205 (toll-free)
617-371-1228 (TDD)

I hope this helps.

Be well,
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0 votes 2 answers Share Flag
Sun Aug 7, 2011
Jennifer Erickson answered:
Hi Tara,

The property is has been foreclosred upon or it is in pre-forclosure. The are many steps a lender must take prior to foreclosing on a property. If this property is still in pre-forclosure the owners can still save it with a loan modification or catching up on payments or bankruptcy,. The owners could also attempt to sell he property as a short sale. Go to our site for full explanations of the various options.


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0 votes 3 answers Share Flag
Fri Aug 26, 2011
Scott Godzyk answered:
You can check woth the county courthouse or registry of deeds where foreclsoures are filed or with publication like the registry review that lists auctions. You can check the house if vacant to see if it is posted or should watch the local paper each day for when teh legal notice is posted, ... more
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Tue Dec 20, 2011
By profit do you mean on a monthly cash flow or by flippin and selling it for a profit?
0 votes 7 answers Share Flag
Fri Oct 29, 2010
Kevin Olson, Jessica Laude answered:
No, you don't have to pay. You can do google searches to find them, set up an auto-email system with an agent in your area, or look on the HUD and Homepath websites for the areas you are interested.

Good luck,
... more
0 votes 12 answers Share Flag
Thu Oct 28, 2010
FSBOsuccess answered:
You betcha. You can't just walk away from your obligations and responsibilities!
0 votes 4 answers Share Flag
Fri Sep 24, 2010
Suzanne MacDowell answered:
Call a lawyer! It is important to know whether Massachussetts even allows for deficiency judgments and whether your specific case permits them as well. This foreclosure mess is so confusing it may be possible that the company that bought the debt is not familiar with the rules. ... more
0 votes 4 answers Share Flag
Sat Oct 9, 2010
Scott A. Nelson answered:
You really need to speak with a qualified attorney to review your deed, mortgage and relationship status to properly advise you as to your risks & responsibilities for the property. Making the wrong choices can have severe consequences.

Hope that helps,
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0 votes 6 answers Share Flag
Thu Jul 15, 2010
Miroslava answered:
Real estate is all about location. Where would the single family house exactly be? The condos in downtown Boston have held its value unlike some Boston suburbs were the prices significantly dropped. if you give me the town name I would be happy to email you market reports for both areas.

Miro Fitkova
Fitkova Realty Group
p 617-232-3220
cell. 617-921-9952
fax. 617-608-1632
... more
0 votes 6 answers Share Flag
Sat Oct 9, 2010
Lisa Johnson Sevajian answered:
If you aren't on the deed or the mortgage and she purchased before you were married you are most likely not at fault unless you have a prenuptual agreement that suggests otherwise in which case you would have to review that document.
When in doubt consult a real estate attorney to be 100% clear.
I am clearly not an attorney but I have encountered similar issues with customers facing foreclosure.
Have you and your wife discussed short sale as an option? If approved by the lender the impact on credit is not as dramatic as a foreclosure.
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0 votes 6 answers Share Flag
Fri Feb 26, 2010
Elizabeth Herbert answered:
You want to pose that question to your bankruptcy attorney as that is his scope of expertise and he would be able to answer that question for you best.
0 votes 9 answers Share Flag
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