Boston Foreclosures are few and far between, at least in the downtown marketplace Sometimes living in such a conservative town isn’t so bad. When I look at the foreclosure problem nationwide, I struggle sometimes to realize the mess there is in other parts of the country. We are very lucky that we have not been hit (at least downtown) with a glut of Boston Foreclosures.
We are happy to announce our new partnership with RealtyTrac who provides foreclosure data nationwide. They also provide short-sale information and pre-foreclosure information. In the next few weeks our Boston Foreclosures section of the website will be robust with all of the Boston area foreclosure information available.
For now, I went into our Boston MLS system and pulled all Boston Foreclosures listed in downtown Boston.
Here is a list some of the Boston Foreclosures that I liked:
Not familiar with Foreclosures, short sales, pre-foreclosure see below.
Foreclosure is the legal and professional proceeding in which a mortgagee, or other lienholder, usually a lender, obtains a court ordered termination of a mortgagor’s equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lienholders can also foreclose the owner’s right of redemption for other debts, such as for overdue taxes, unpaid contractors’ bills or overdue HOA dues or assessments. More details here on wikipedia.