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 described as  “An Act Preventing Unlawful and Unnecessary Foreclosures.” Mortgage Assignments are Required to be Recorded The new law states the foreclosure process may not [...]

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Visit my site Massachusetts Short Sales . info to read the article I wrote on how Stopping a Foreclosure Auction with a Short Sale. Short sales have many benefits to home owners. One such benefit is if we are currently negotiating a short sale offer we can typically stop any upcoming foreclosure auctions.  You have options to foreclosure.  Almost all of your options will benefit you more than a foreclosure sale.  Take the time to learn your options to foreclosure.  

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One of the more critical pieces of your short sale package is the Short Sale Hardship Letter.  Lenders are concerned about limiting risk and their losses  With a Short Sale Hardship Letter, your basically saying…. “hey, I’ve got a problem so you have a problem”.  The hardship letter will lead the bank to believe foreclosure is imminent. I wouldn’t suggest writing that!! But really that is what you are trying to convey to the lender Your financial hardship should be believable and supported by documents.  With the hardship you need to show your inability to pay and the non-payment will [...]

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Kevin Vitali- Massachusetts Sort Sale Realtor closes on another short sale.  The condo was located in Haverhill Massachusetts and had a first and second lien from Eastern Bank as well as MassHousing and the city of Haverhill.  Eastern Bank was wonderful to deal with and the deal closed successfully despite 4 separate liens on the property. Why is a short sale beneficial to a homeowner? Potential to avoid the deficiency judgement Potential to receive a small relocation fee from the bank Stay in your home while in the process and if you cannot or choose not to stay for free!! [...]

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As an Massachusetts Short Sale Realtor that both lists and shows short sales,  I would like to stress to short sale sellers that good showing principles still apply.  You must compel people to buy your home.  I am not saying spend money on rehabbing the kitchen or bathrooms, but a good cleaning and de-cluttering can go a long way.  Your home may not be in the best condition but buyers love a clean, clutter free home. Property Condition I understand you are losing your home, and that is difficult, but it could mean the difference between selling your home or [...]

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I wanted to take the time to introduce two new real estate blogs that I have started in companion to Merrimack Valley MA Real Estate.  Many people have questions about short sales and home buying.  I decided a site for each topic would make it easier for home owners and home buyers. Massachusetts Short Sales MassachusettsShortSales.info is a blog site dealing directly with the topic of Massachusett Short Sales and Avoiding foreclosure in Massachusetts.  While my real estate blog site has tons of articles on Massachusetts Short Sales and Avoiding Foreclosure, I wanted to make a concise site for home [...]

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I closed another successful short sale this month in Tyngsborough Massachusetts. While this was a difficult transaction with Wells Fargo my short sale team got the job done. This was an FHA loan. FHA short sale approvals automatically release the seller from the deficiency. Good news for the seller! If you currently have an FHA Loan and are considering a short sale, the deficiency balance is automatically waived. If you are looking to do a short sale or have questions call Kevin at 978-360-0422

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Closed on another Amesbury Massachusetts Short Sale on Friday February  3rd.  The property was a condominium located at Senee Court in Amesbury Massachusetts.  The short sale closed under the HAFA Short Sale  program with a first mortgage from GMAC and a second mortgage from Bank of America.   We were able to negotiate arrearages on condo fees and municipal taxes and have the bank pay all of those fees.   The buyer received a relocation fee from the short sale as well as all the benefits of completing a successful short sale.  While having a level of difficulty the HAFA [...]

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Your have several options to foreclosure.  While some options to foreclosure allow you to keep your home, others do not.  When faced with missed mortgage payments it is important to react quickly, review your options to foreclosure and make the decision that is best for you and your family.  Many times receive phone calls from homeowners who have an auction date a few weeks away.  While it is not impossible to stop an auction with the date a week or two out it makes it much harder.  In Massachusetts, the foreclosure process is a long one and you have at [...]

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8 Cedar Street, Unit 5 Haverhill MA 01830 MLS# 71321460-  $59,000 Status- Sold for $54,000 on 2/28/2012 2 Bedroom  |  860 square feet  |  1 Bath  |  Garden Style Condominium  Sunny and bright! Located on the top floor of the building this unit receives plenty of sun all day thru its large windows… and there are plenty of them.  Recently rehabbed in 2006, this Haverhill condominium unit is in excellent shape as well as the entire building.  This condo features refinished hard wood floors through out, maple kitchen with granite tile counters, stainless appliances and ceramic tile floor, laundry in [...]

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