Category Archives: Mortgage & Finance

Why NOW is the perfect time to buy in Boston

Photo Credit: Boston Globe Staff Photo by John Tlumacki

According to a new report from The Warren Group, the publishers of Banker and Tradesman and The Commercial Record, the numbers for Massachusetts home sales are down more than 20% for the first half of 2011, and at the lowest level since 1991.
Although this may not necessarily be news to celebrate the economy’s comeback, the silver lining appears. Buyers in the Boston real estate market can rest assured knowing that it is a great time to purchase their first home, or buy a vacation home. Boston area condos, especially those …

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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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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Don’t Throw Away $8,000….ACT NOW…The Homebuyer Tax Credit Expires This Week!!

There is still time to take advantage of the $8,000 or $6,500 tax credit offered by the Federal government…but you must move fast!
The tax credits are available to homebuyers who sign purchase agreements on a new or existing primary residence before April 30, 2010 (this Friday). Buyers have until June 30 to close on their new home.
This program is not just for first-time homebuyers!! In addition to offering the $8,000 first-time homebuyer tax credit, the new law also allows a $6,500 credit for repeat or move-up homebuyers who …

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FP3 gets FHA

In a press release today we were advised that FP3, the new luxury loft development located in the Seaport District officially got FHA Financing Approval. In a world with limited creative financing, this FHA Financing option will open the doors to many new prospective buyers looking to own instead of rent this year.  See the full release below:

FP3 Receives FHA Approval
FHA approval makes FP3 accessible to a host of new home buyers who qualify for mortgage loans insured by the Federal Housing Administration
FP3, located at 346 Congress Street in Boston’s …

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