Bank Owned

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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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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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Bank Owned Multifamily: FAQ

These questions were emailed to me today after a recent inquirer reviewed the list of bank owned multifamilies:
In the listings, there’s a list price. Is this how much the bank wants or is that the original list price prior to the bank owning the property?
The list price is the ‘ask price’ what we’re [...]

8May2008 | Brecht Palombo | 0 comments | Continued
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