I just posted a summary of the Massachusetts Foreclosure Prevention Law on my blog dealing specifically with short sales. Hopefully this new law will slow down the foreclosure process as well as make the banks take a closer look at options to foreclosure. Excerpt reprinted from MassachusettsShortSales.info Governor Deval Patrick signed into law the new Foreclosure Prevention Law in August of this year and went into effect on November 1st. The Foreclosure Prevention Law is … Continue reading...
2 Multi Families Just Listed- Haverhill MA Short Sales
2 new two families listed for sale in Haverhill MA. Both properties are great for the owner occupied or the investor. Both homes are also short sales and subject to lien holder approval. [jtabs] Haverhill MA Multi Family- Just Listed :: 68-70 Marshland Ave, Haverhill MA 01832 Perfect for owner occupied or the investor. Both units lay out nicely and are desirable rental units. Great location near Round Pond. This home has had many recent updates and is in good … Continue reading...
Bankruptcy and how it ties in with Short Sales and Foreclosures
I must start out by first saying that I am not a bankruptcy attorney and by no means an expert. I am writing this post from the standpoint of being a Massachusetts Short Sale Realtor and what I have experienced. If you are in a pre-foreclosure situation and you are considering a bankruptcy to save your home you should consult with a bankruptcy attorney. When should I consider a Bankruptcy prior to a Short Sale or Foreclosure? A bankruptcy should be considered, if the restructuring of your … Continue reading...
Short Sales for Buyers
Short Sales for Buyers can be complex There is nothing like understanding short sales for buyers. A short sale is a complex transaction and requires many things to consider. The best advise I can give you is find an agent that is well versed in short sales. Sometimes the best thing to do is walk away from a short sale is your agent is not getting a good feeling about the negotiator and the situations. Otherwise you will wait around for months only to be … Continue reading...
Tax Consequences of a Massachusetts Short Sale
One thing to be aware of when you doing a Massachusetts Short Sale is the potential of a tax liability. Short sales can have many benefits for upside down homeowners who are facing foreclosure and will probably far out way any potential tax liability that may be incurred. It is important when considering a short sale to have all the information to make the best decision for your circumstances. While for most sellers doing a short sale, it probably will not be a huge concern it may be helpful … Continue reading...
Lowell MA Short Sale Sold- 74-76 West Forest Street, MLS#71150758
Another Lowell Massachusetts Short Sale Sold!! 74-76 West Forest Street, Lowell MA 01851- My short sale team has successfully closed another Lowell MA Short Sale. If you live in Lowell Massachusetts or any where through out the Merrimack Valley call an agent that has closed numerous short sale transactions. [idx-listings city="Lowell" propertytypes="157" orderby="DateAdded" orderdir="DESC" count="15"] If you are a Massachusetts homeowner that has missed mortgage payments, or facing … Continue reading...
The Short Sale Hardship Letter for Massachusetts Short Sales
One of the vital pieces the banks are looking for in a short sale is the financial hardship. You will be asked to submit a hardship letter. I have a format that I use for all of my short sale sellers. Remember to keep in simple!! The short sale hardship letter should be neatly handwritten and reduced to less than one page. Bear in mind the short sale negotiator is working on hundreds of files and don't want to be reading page after page of why you can no longer make your mortgage … Continue reading...
What is a Short Sale?
As a real estate agent that handles many short sales in Massachusetts, I run into many consumers that don't really know what a short sale is and entails. A short sale in real estate is when a homeowner cannot not sell a home in an open market for the amount owed on the home. Generally there is a financial hardship that prevents the homeowner from continuing to pay their mortgage, though we are hearing more and more about [intlink id="258" type="post"]strategic short sales[/intlink] in the … Continue reading...
Short Sale Realtor Offers Free eBook- “Should I Short Sale My Home?”
"Should I Short Sale My Home" is a free eBook offered by Kevin Vitali and co-authored with Tim and Julie Harris. Kevin Vitali has been successfully closing short sales in Northeast Massachusetts for over four years. The eBook helps upside down sellers consider other options other than foreclosure. Options to foreclosure include loan forbearance, loan modifications, bankruptcy, deed in lieu of foreclosure and short sales. Learn what those option are and why you should avoid foreclosure if at … Continue reading...
A Short Sale Realtor Should Never……
I have been on several short sale appointments lately where agents have been promising upside down sellers specific results in a short sale. An agent can never promise an outcome from a bank in a short sale. As a seller be wary of any short sale negotiator or agent that promises a specific result. There is no way someone can predict the outcome of a bank. It is entirely the bank/ investors who decide what they will offer a seller in a short sale. Even if one short sale went well with … Continue reading...