Posts tagged as:

REO Homes

Short Sale Success

by Warren Reynolds on May 24, 2009

As you may know, short sales abound in the current MA real estate market. With a short sale, the home being sold is worth less than the mortgage debt secured by the property.  The lender agrees to accept less at closing  than the outstanding mortgage loan balance. One of my recent listings was a short [...]

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Delays, Mistakes Common with REO & Short Sales

by Warren Reynolds on March 26, 2009

“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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