Archive for May, 2008

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More Banks May HAVE to Sell at Foreclosure

It is the norm for big banks foreclosing in Massachusetts to use the process simply as a title clearing procedure. The way it works is that there is minimal marketing and the bid process involves the foreclosing attorney “bidding the debt” or bidding the full amount that the bank has into the property. Very often [...]

12May2008 | Brecht Palombo | 0 comments | Continued
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The Secret to Buying Real Estate with Your IRA

The secret sauce for making a real estate purchase with your IRA is non-recourse debt. Debt must always be non-recourse debt when your IRA purchases real estate. Say what? Non-recourse means that the only thing on the hook is the property, that’s it, you can’t personally guarantee the loan.
Not being on the hook for anything [...]

9May2008 | Brecht Palombo | 0 comments | Continued
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Massachusetts Foreclosures Break Another Record

I want to stop writing this type of headline quarter after quarter. This news from a press release just out from foreclosuresmass.com. This comes on the heels of the National Association of Realtors report that pending home sales dropped to a new low…which was immediately followed by a report, from the same organization, that said that home sales were going to improve over the summer.

8May2008 | Brecht Palombo | 0 comments | Continued
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