Boston real estate foreclosures, subprime lending crisis
It sounds as if it’s a good idea. If you are a loan servicer and some of your borrowers are having trouble making a payment on their mortgage loans, why not try to work out a deal? It costs less than going through all the steps necessary to foreclose on their...Boston real estate foreclosures
Foreclosure auction announcements in Massachusetts nearly tripled in May compared with year-before numbers, according to a release Tuesday from The Warren Group. There were 1,589 announcements of foreclosure auctions in Massachusetts in May compared with 654 in May...Boston real estate foreclosures
Foreclosures have hit new highs, this year. While that news fits nicely into a headline, if you drill down, you learn a lot more. [The Mortgage Bankers Association’s] Chief Economist Doug Duncan predicts that delinquencies would continue to rise, peaking later...Boston real estate foreclosures
The number of homes reaching the auction stage of the foreclosure cycle by banks holding the owners’ mortgages has increased for the fourth month in a row. (Run-on sentence???) Warren Group said the number of foreclosure auctions scheduled for April reached...Boston real estate foreclosures
Here’s an interesting quirk in our tax code. The current tax code requires a lender who forgives a debt to provide a Form 1099 to the IRS stating the amount the borrower has been forgiven. This disclosure applies whether it is a short sale, foreclosure, deed in...Boston real estate foreclosures
Letter to the Editor, today’s Boston Herald b>Yoon’s plan wrong plan City Councilor Sam Yoon’s proposal to buy back condos and homes when they are auctioned off by lenders appears to be another extension of public housing at the cost of Boston...