Our Blawg
Buying an REO Property v. Foreclosure Auction Property
I have had a few clients ask me recently about the difference between buying a property at a foreclosure auction and buying a property owned by a bank (REO/Real Estate Owned). A property purchased at a foreclosure auction or foreclosure sale is purchased through a...
read moreAnother Problem with Short Sales – The Short Sale Flip.
. Title insurance underwriters, concerned about the risk in insuring short sale flips have taken a position of not insuring them. Old Republic Title Insurance announced to it’s agents last month that it would no t authorize the issuance of lender or owner title...
read moreDeclaration of Homestead in Massachusetts
A Declaration of Homestead is a type of protection for a person’s primary residence. The Declaration of Homestead is a form that is filed at the Registry of Deeds in the county where the property is located, referencing the title/deed to the property. It allows...
read moreHome Buyer Tax Credit to be Extended
Today the House of Representatives voted 409 to 5 to give home buyers three more months to close on their purchases and still qualify for the $8,000 or $6,500 federal income tax credit. The House bill extends the closing deadline to September 30, 2010. Now the Senate...
read moreMass. UPL Debate Heads to State Supreme Court
The debate over the unauthorized practice of law in Massachusetts took a new twist this week. A 2009 ruling in favor of National Real Estate Information Services Inc. (NREIS) in an unauthorized practice of law case brought by the Real Estate Bar Association for...
read moreNew Foreclosure Alternative Program May Offer Relief to Homeowners
The Home Affordable Foreclosure Alternatives (HAFA) program is a part of the Home Affordable Modification Program (HAMP), and offers a streamlined process for short sales and deeds-in-lieu of foreclosure. HAFA will allow homeowners to discharge their first...
read moreMassachusetts Privacy Law – 201 CMR 17 Compliance (WISP)
Massachusetts privacy law requires businesses to implement security controls to protect systems containing Massachusetts resident’s personal information from data loss. What is Mass 201 CMR 17? In an effort to protect Massachusetts residents from the rising incidence...
read moreMass. Smoke/Carbon Monoxide Detector Law Effective April 5, 2010
Law Requires 2 Types of Smoke Detector Technology The two most common methods of fire/smoke detection technology currently used is either ionization or photoelectric based. Ionization sensors feature a constant current flowing between two electrodes. When smoke...
read moreNew Oil Heating System Law Affects Homeowners
. On July 1 2010 a new Massachusetts law goes into effect that will concern certain homeowners. The new law requires that all 1 to 4 family residential dwellings serviced by a home heating oil system meet new safety standards. Homeowners using home heating oil...
read moreFEMA Disaster Declarations May Delay Funding
Last night FEMA made Disaster Declarations for much of Mass, RI and NH (see counties affected below). Lenders are going to require the appraiser go back out and do a re-inspection prior to funding to show that the property is undamaged / unaffected by the disaster. Be...
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