Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Foreclosure in Worcester County : Real Estate Advice

  • All36
  • Local Info3
  • Home Buying24
  • Home Selling1
  • Market Conditions2

Activity 25
Mon Mar 11, 2013
Karissa answered:
Dear Hank829:

Often the properties have been neglected long enough to only yield what it can yield. Is there a specific property you noticed?

-Karissa
0 votes 4 answers Share Flag
Mon Mar 26, 2012
Amy Mullen answered:
Hi Worcesterrealtor,

The second frequently has little to say in the matter of a foreclosure from the first and often gets nothing in either a short sale or a foreclosure. So to answer your question - not much - it's still foreclosed.

Does that help?

Amy
... more
0 votes 4 answers Share Flag
Tue Jan 10, 2012
Christine Moran Realtor & Notary answered:
POA laws exist in every state and can impose different requirements depending on where the POA is made and for what purposes it is intended.
0 votes 1 answer Share Flag
Fri Dec 16, 2011
GALEN KELLER answered:
It does not appear to be. According to the registry of deeds it was last sold 06/22/2000.

Why do you ask?

Please call to discuss.

508-868-0110
0 votes 2 answers Share Flag
Fri Sep 23, 2011
Shanna Rogers answered:
Hi Liljoe429,

I'm not sure about MA, but in CA since you have no lease and haven't paid rent technically you're trespassing. You would receive a 3 day to quit notice. You should have seen some type of notices placed at the property before the auction. Contact the company on them to find out your 'options'. You might also want to contact a Real Estate attorney.

Good luck.

Shanna Rogers
SR Realty
www.RealtyBySR.com
... more
0 votes 17 answers Share Flag
Wed May 18, 2011
Christine Moran Realtor & Notary answered:
Sat Mar 5, 2011
Valerie Mitz answered:
The official MLS listing states that this isn't a foreclosure or a short sale and it has had the same owner since 2005. If you have any other questions please let me know.
0 votes 2 answers Share Flag
Tue Feb 1, 2011
Dennis answered:
You are, unfortunately between a rock and a hard place. As a Realtor and a Paralegal, I can tell you that you can try to draw up a quick document and submit it to the attorney for the bank -- asking permission to remove the snow and that you thereby absolving the bank of any liability. With a statement like that in writing in the hands of an attorney -- they may, on some occasions, allow you onto the property to clean the snow off the roof. But note this: should you be injured or should you cause, yourself, any damage to the property, you've already agreed to waive any rights you may have had.
In some cases, this may be warranted and in others it should be avoided (if indeed the attorneys for the bank were to accept you "DISCLAIMER" -- that's why they call it a disclaimer.
Other than that, you have no legal recourse should damages occur from now to the closing. That would be your only avenue, it is tentative, and carries substantial personal liabilities to you.
... more
0 votes 19 answers Share Flag
Thu Aug 5, 2010
Dp2 answered:
Instead of buying via a short-sale (since your offer was denied), you could counter with buying the property via a lease-option or seller financing. If that property goes up for auction, then you'd have to compete with whoever else shows up there. ... more
0 votes 3 answers Share Flag
Thu Mar 18, 2010
Heidi Zizza answered:
Yes there is something they put in the tank its called Hot and it would be clear liquid not blue. I double checked with an oil company and you can pump the tank and have the liquid tested at cat equipment in milford. They do oil sample tests and it should be under $100 for the test. Good Luck! ... more
0 votes 4 answers Share Flag
Sat Mar 13, 2010
Bob Movin-On answered:
In Mass there is no redemption period therefore it will be just a matter of how long it takes the trustee to file the papers and transfer title to the bank or the successful bidder at the auction. In most cases the bank takes the property if they do you may have some time, many banks would rather you occupy the home until they sell it. I have seen cases where it takes the bank anywhere from 12 to 24 months to sell and ask the original owner to move out. Some banks do "cash for keys" because they would rather have you move out peacefully with no damage to the home. I would monitor the auction and contact whom ever is the successful bidder to ask them.
Why are you giving up on saving your home?, there are programs out there to help distressed homeowners, the government has mandated banks to work with distressed homeowners and the bank really does not want to foreclose, they just like to play hard ball thinking you will find a way to pay them. Get proactive, call the bank, tell them you want to work things out, I know it is time consuming and difficult dealing with them but foreclosure is a life changing event and you do not want to go there.

Ramifications of Foreclosure, Short Sale or Deed-in-lieu-of-foreclosure

Here are some of the ramifications of foreclosure, short sale or deed-in-lieu-of-foreclosure, there are many more like your job, yes employers are checking credit records these days.

Your credit score will be reduced by 200-400 points, short sale a little less 100-200 points.

All forms of foreclosure stay on your credit report for 10 years.

After you have gone through foreclosure, short sale or deed-in-lieu-of-foreclosure there will be what is known as the "waiting period", this period of time varies for each and can be reduced if you had some type of extenuating circumstances that caused the foreclosure:
Waiting Periods to Buy After Foreclosure
* Buying After a Foreclosure
The waiting period is 5 years up to 7 years.
* Buying After a Foreclosure with Extenuating Circumstances
The waiting period is 3 years up to 7 years.
* Buying After a Deed-in-Lieu of Foreclosure
The waiting period is 4 years up to 7 years.
* Buying After a Deed-in-Lieu of Foreclosure with Extenuating Circumstances
The waiting period is 2 years up to 7 years.
* Buying After a Short Sale
The waiting period was just upped from 2 to 3 years. However, if a seller does not have a 60-day late pay, that seller may immediately buy another home. It's a reason to stay current on your payments while the home is on the market as a short sale.
In addition to the waiting period, most loans require a minimum down payment of 10% and a minimum FICO score of 680. The home purchase must also be the principal place of residence, not a rental nor a vacation home.

Lastly, most loan applications will ask the dreaded question "Have you ever been foreclosed on?" this stays with you for life, many think that because it will not show up on the credit report after 10 years they can answer "no", well lying on a loan application is a felony that carries a major jail term, so be aware.
... more
0 votes 2 answers Share Flag
Thu Jan 7, 2010
Scott A. Nelson answered:
You should probably contact your bankruptcy attorney for actual legal guidance. Alot will depend upon how actively your lender & servicing companies are. Massachusetts is a very pro-tenant state fortunatly for you. You might have 30-60 days from the court date if you're lucky. Often times it can be negotiated with the lender what's called "cash for keys", in that they offer you an incentive to move out faster & leave the place in good condition. An attorney is highly recommended especially in your case where your ex & you may have separate & joint liabilites with the property.

Hopefully 2010 will be a better year for you, good luck, check back and let me know how you make out,
... more
0 votes 3 answers Share Flag
Thu Dec 31, 2009
Scott A. Nelson answered:
You should probably contact your bankruptcy attorney for actual legal guidance. Alot will depend upon how actively your lender & servicing companies are. Massachusetts is a very pro-tenant state fortunatly for you. You might have 30-60 days from the court date if you're lucky. Often times it can be negotiated with the lender what's called "cash for keys", in that they offer you an incentive to move out faster & leave the place in good condition. An attorney is highly recommended especially in your case where your ex & you may have separate & joint liabilites with the property.

Hopefully 2010 will be a better year for you, good luck, check back and let me know how you make out
... more
0 votes 1 answer Share Flag
Sat Sep 19, 2009
Angela Dolber answered:
You could always check with H.U.D. and see if they have any programs that give out money to fix up distressed properties, but mostly it is for state organizations to renovate neighborhoods or build housing for low income residents or even Section 8 housing. If you are a first time home buyer and close on the property by November 30th, you can always use your first time home buyer tax credit money to fix it up too. Good luck!

Angela Dolber
Prudential Prime Properties
508-826-8553
angela@pruprimehomes.com
... more
0 votes 1 answer Share Flag
Fri Sep 18, 2009
Angie Roy asked:
Tue Nov 10, 2009
Andrew Adams answered:
I don't agree with that statement Alex. I have a short sale transaction closing at the end of the month, already approved by the bank.
0 votes 7 answers Share Flag
Wed May 13, 2009
Angela Dolber answered:
This one is tough to answer since I would need more information regarding the stay lifted scenario you have with the bank. Have you talked with the bank and made some type of resolve with them after having trouble paying your mortgage? Is your home for sale and you have an offer in on it? If so, then you need to try and get something solid with that buyer before the actual foreclosure date given by the bank. Depending on your financial situation, have you talked with the bank on doing a possible short sale if it can be done? So there are different reasons for the stay lifted on your home (could be 3 weeks to up to a year??) and I wouldn't be able to tell you more unless you gave more information regarding the situation with your home. ... more
0 votes 1 answer Share Flag
Fri Nov 27, 2009
Aimee Siers answered:
Hi Edgar -

You can go to my website at www.ReadyAimSold.net.....you can search for listings, foreclosures or otherwise.

You will need to submit some basic information....but certainly no obligation.

Happy to help.

Aimee Siers
Century 21 Commonwealth
508-981-7790
... more
0 votes 3 answers Share Flag
Mon Sep 29, 2008
Territory.com answered:
The property is being marketed with a company that focuses on foreclosures - realty trac. They are not the agency selling the property so you would need to hire a buyer agent to either contact realty trac or the bank that owns the property to get more information for you. Or you could try buying it direct.

Good luck!
... more
0 votes 4 answers Share Flag
Sun Jun 29, 2008
Cameron Piper answered:
Theresa,

I am not sure that I understand your question correctly but I will give it a shot. Here are my scared thoughts on the matter.

1. Unless the 1st lien holder is being shorted, I would argue that their approval of a sale doesn't matter. The secondary lien holder is the one who really needs to approve a short sale.

2. If there isn't a short sale and all liens will be paid in full, neither party needs to approve the sale. They simply need to provide a payoff amount.

3. To begin your work on the short sale with the 2nd lien holder, you are going to need to show that the offer price is fair and that the seller truely has hardship.

4. If the 1st is short that means the 2nd will get nothing, and you really have your work cut out for you. My money says they won't approve it in this case.

Good Luck

Cameron Piper
... more
0 votes 3 answers Share Flag
1 2
Search Advice
Search

Followers

153