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“After weeks of negotiating the purchase (of a bank-owned home) . . . it turned out the bank didn’t actually own the property, and had wrongfully foreclosed on the home.” This amazing quote is from an irate employee of an affordable housing organization trying to buy a foreclosed home. The man wasted weeks of time [...]
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If you’re interested in buying a foreclosed home in Massachusetts and will live in the property as your principal residence, there is a new program that may help you. Massachusetts recently announced modifications to the previously existing “SoftSecond” loan program which are aimed at encouraging low-and-moderate income buyers to purchase foreclosed homes in designated hard-hit [...]
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Buying a home from a bank after the foreclosure auction can be very lucrative. And by buying a foreclosed property, you are performing an important function in helping stabilize the real estate market in general as well as the neighborhood in which the home is located. But REO home sales carry a hidden problem for [...]
Buying a home at foreclosure auction or from a lender post-foreclosure is a very hot topic these days. And where there’s widespread popular interest in a complicated, poorly understood aspect of life involving lots of money, the scam artists are quick to set up shop. It seems there are hundreds of web sites featuring photos [...]
Short sales are attempts by financially distressed homeowners to sell their homes before the properties go to foreclosure auction. The short seller knows that the market value of his home is less than the amount of mortgage debt he owes on the property. The seller will be “short” at the closing: he lacks the extra money [...]
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Real Estate Owned (REO) sales are increasingly common on the MLS in Massachusetts. These REO sales are post-foreclosure offerings by the lender often via an agent using the MLS. So most REO homes are easy to find and any agent with MLS access can show these listings. As you will find when you look at the insides [...]
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Warren Reynolds, Esq, GRI, e-PRO
Tel: 508.613.2889 | Contact
Century 21 Commonwealth
15 West Central Street
Franklin, MA 02038
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