Category Archives: Foreclosures

45 Province Goes to School

The 45 Province luxury condominium tower in downtown Boston is getting some very young occupants.
The Torit Language Center Montessori school will occupy two floors — using the space for six classrooms and several related spaces. The operation will open to young charges aged six weeks through 12 years beginning this fall.“This facility will be a great asset for the residents who live in the area and encourage other families to live in our downtown,” Mayor Thomas M. Menino said in a prepared statement.
“By partnering with the Torit Language Center Montessori …

Beware Phony Foreclosure Aid

“‘Loan modification scams are reaching epidemic proportions across the nation,’ said Thomas J. Curry, a board member of NeighborWorks America, a Washington, D.C., nonprofit spearheading the nationwide program.”
Oh, what program, you ask? The program is actually a campaign, backed by local, state, and federal agencies, targeted at homeowners facing foreclosure, which I know I have written plenty about. The campaign has one key message: Homeowners who are struggling to make payments and are facing foreclosure need to be wary of loan modification schemes. Or as the Globe puts it, …

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Foreclosure’s Surge, Becoming a Full-Blown Crisis

So I’ve been writing about foreclosure’s in Massachusetts for a while now, and to be honest, it’s making me a little depressed. Yesterday, the Boston Globe published yet another article on the foreclosure crisis, here’s a condensed version compiled from excerpts from the original article.
Home Loss Surging in Mass. (Rate of foreclosure jumps as lenders get used to process.)
The number of homeowners who lost their properties to foreclosure in April swelled to 1,372, almost 80 percent more than during the same month last year, according to data released yesterday by …

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Boston Real Estate News 5/19/2010 (Part II)

Boston Properties Earns 13th Spot in the Globe 100 – Boston Properties, a real estate investor and developer with $12.3 billion in assets in four cities, has earned the 13-spot in the Boston Globe’s annual Globe 100,  which ranks the best publicly held Boston businesses by composite performance. With $1,536.7 million in revenue in 2009, Boston Properties did what many real estate investors and developers couldn’t: not just survive the recession, but overcome it. The owners of the beloved Prudential building have their latest development nearing completion, a $600 million, …

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Avg. Home Prices Increase in 91 Cities Through First Quarter

In Bloomberg Businessweek’s recent update to their first-quarter findings, they have announced that home prices rose in 91 American cities. Bloomberg attributes this to the tax credit taking a significant number of properties off the market and the slow but steady recovery of states hit hard by high foreclosure rates.
“Cities that led the nation in foreclosures a year earlier had the biggest price increases as a tax credit of as much as $8,000 boosted demand and drove the supply of unsold homes to a four-year low in January, according to …

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Bankruptcy, Foreclosure, and Unemployment Amidst “Revitalization”

The W’s filed for bankruptcy, the foreclosure rate is at a high, and unemployment has gone down all in the midst of what many are calling a “revitalized” real estate market.
This is craziness. Here are the bullets.
What’s The Deal With The W?
As you may well know, one of Boston’s newer luxury hotels and residencies, the internationally recognized W Hotel, has filed for chapter 11 bankruptcy.
The W lies in the heart of the Theater District on Stuart Street and is considered an artistic masterpiece, designed by Bill Rawn, however, many consider …

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