In an attempt to lower the amount of homes on the market available for sale and assist in balancing out the heavy inventory of homes.. The White House temporarily suspends ruling that imposes a 90-day waiting period before foreclosed homes can be sold to receive government FHA loans.

This eliminates the requirements of seasoning issues for investors who have aquired a home to resell for a profit, making it easier to get the end buyers into a government backed FHA loan.

If you are out there as an active investor this is music to our ears. So many investors are picking up pre foreclosure homes on a lease option, subject to, or even thru a shortsale, this new ruling makes it easier to get your buyers into a home hopefully lowering the amount of available homes on the market which makes it easier for investors to flip these homes for a profit.

As of June 13, 2008 - The Associated Press Reports

WASHINGTON (AP) - The Bush administration is temporarily suspending a 5-year-old rule intended to deter property flippers, as part of an effort to help speed the sale of foreclosed properties.

For one year, the Federal Housing Administration will no longer impose a 90-day waiting period before foreclosed properties can be sold to receive government-backed loans.

The policy was put in place in 2003 to deter property “flipping” schemes, in which buyers are overcharged for foreclosures or other distressed properties. But the surge in vacant properties resulting from borrowers who were unable to afford their mortgages has become a far more pressing concern.

“A glut of foreclosed and abandoned homes harms neighborhoods, frustrates homebuyers and delays a community’s recovery,” FHA commissioner Brian Montgomery said in a prepared statement.

The new policy “will allow homebuyers to purchase these homes in much greater numbers and ease the excess supply of unsold homes,” Montgomery said.

Nationwide, 261,255 homes received at least one foreclosure-related filing in May, up 48% from the same month last year, and up 7% from April, foreclosure listing company RealtyTrac Inc. said Friday

See Article Link

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“We have allowed our nation to be overtaxed, over regulated, and over run by beurocrats our founding fathers would be ashamed to what we are putting up with..”

He is the right guy.. Conservative Congressman is anti government, anti war, pro personal liberty, pro economic freedom vote for him..! he is a Real Revolutionary who speaks the truth as to what this country has become to.. Freedom is truth and truth is power! Exactly what this county needs in this time and era.. He’s is the only choice for President in 2008 election! see this video..

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- Are You facing Foreclosure?
- Have Bad Tenants?
- Are You Relocating?
- Owe Liens?
- Over Financed?
- Behind On Payments?
- Getting Divorced?
- Estate Sale?
- Is Your House Vacant?
- House Need Repairs?
- Has Your Listing Expired?
- Making 2 house payments?
- Relocating?
- Job Transfer
- Burned Out Landlord?

These are common problems that can happen to anyone. What can you do? Wait for a real estate agent to sell your home or try to sell it yourself?

I have a better idea..

Contact us for a no obligation offer on your property!
Home Sale Solution is a phone call away!
Dont Delay the clock is ticking - Call today - 860-481-4491

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to have the investor do is ask for the lender or bank to waive any deficiency judgements against you when they make the offer and the offer gets accepted just to be safe form any further liability ( get it in writing the banks loose info to their benefit ).. This helps in a way that the lender will not pursue the home owner for any deficiency judgement between what they accept and what is owed on the property. If you are not late on your mortgage payments the bank will not even consider this as an option because at this point your just dealing with them tring to collect the money owed to them. It is not until 90 days past due or when an actual Lis Pendens is filed against you the homeowner before they will even entertain the short sale idea in addition they need to clearly see that you wont be able to make up the back payments or future mortgage payments & also some sort of permanent personal hardship causing this situation which has not been resolved, then and only then will they even entertain this real estate short sale. Job loss, health, divorce, or other unchanging circumstance will be all factors that should be addressed in a Hardship Letter. The Hardship letter is something that should be submitted with offer and with offical short sale package gotten from lender at time they say they will entertain this solution. If the lender says they will consider the short sale of the real property then be sure to ask for a short sale package which will require not only a hardship letter but also detailed financials as well.. The Hardship letter should be handwritten and detailed as to why the payments cannot be made any longer and all the circumstances leading upto this point..

The real estate has gone belly up and the lenders have such an abundance or REO property ” bank owned ” they certainly dont want to add any more to lower their stock value. For each property that is behind and nonperforming there stock value decreases. For each property they can get off the non performing list their stock value will increase.. This is why they will consider working with you if your situation and hardship is permanent. The lenders and banks dont want any more properties then they already are getting from the boom in foreclosure rates rising nationally, many thanks to the adjustable rate mortgages. This is just one way and strategy to help you to stop or aviod foreclosure. The best way to navigate thru your delimma is to work with an experienced investor like myself..

We Buy Houses! Any Reason, Any Condition, Any Situation - CT, MA, RI -
Call Today 860-481-4491
No Obligation & Confidential Consultation - We can help you Avoid Foreclosure and Create a Solution for your Unwanted Property or problem!

Are you behind in payments? - Relocation / Job Transfer?
Is your house vacant? - Need to settle an estate?
Expired Listing? - Bad Tenants? - Burt Out Landlord?
Facing Foreclosure? -Divorce? - Job Loss?
Tax Liens? - Fire Damage? - Inherited / Unwanted Property?

digg story

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Massachusetts Foreclosure Laws

Massachusetts Foreclosure is Non-Judicial.

Massachusetts Foreclosure under power of sale; procedure; notice; form

Massachusetts foreclosure law states that the mortgagee or person having his estate in the land mortgaged, or a person authorized by the power of sale, or the attorney duly authorized by a writing under seal, or the legal guardian or conservator of such mortgagee or person acting in the name of such mortgagee or person, may, upon breach of condition and without action, do all the acts authorized or required by the power; but no sale under such power shall be effectual to foreclose a mortgage, unless, previous to such sale, notice thereof has been published once in each of three successive weeks, the first publication to be not less than twenty-one days before the day of sale, in a newspaper, if any, published in the town where the land lies or in a newspaper with general circulation in the town where the land lies and notice thereof has been sent by registered mail to the owner or owners of record of the equity of redemption as of thirty days prior to the date of sale, said notice to be mailed at least fourteen days prior to the date of sale to said owner or owners to the address set forth in section sixty-one of chapter one hundred and eighty-five, if the land is then registered or, in the case of unregistered land, to the last address of the owner or owners of the equity of redemption appearing on the records of the holder of the mortgage, if any, or if none, to the address of the owner or owners as given on his deed or on the petition for probate by which he acquired title, if any, or if in either case no address appears, then to the address to which the tax collector last sent the tax bill for the mortgaged premises to be sold, or if no tax bill has been sent for the last preceding three years, then to the address of any of the parcels of property in the name of said owner of record which are to be sold under the power of sale and unless a copy of said notice of sale has been sent by registered mail to all persons of record as of thirty days prior to the date of sale holding an interest in the property junior to the mortgage being foreclosed, said notice to be mailed at least fourteen days prior to the date of sale to each such person at the address of such person set forth in any document evidencing the interest or to the last address of such person known to the mortgagee. Any person of record as of thirty days prior to the date of sale holding an interest in the property junior to the mortgage being foreclosed may waive at any time, whether prior or subsequent to the date of sale, the right to receive notice by mail to such person under this section and such waiver shall be deemed to constitute compliance with such notice requirement for all purposes. If no newspaper is published in such town, or if there is no newspaper with general circulation in the town where the land lies, notice may be published in a newspaper published in the county where the land lies, and this provision shall be implied in every power of sale mortgage in which it is not expressly set forth. A newspaper which by its title page purports to be printed or published in such town, city or county, and having a circulation therein, shall be sufficient for the purpose.

Notice of intention to foreclose, notice and affidavit
No action for a deficiency shall be brought after June thirtieth, nineteen hundred and forty-six by the holder of a mortgage note or other obligation secured by mortgage of real estate after a foreclosure sale by him taking place after January first, nineteen hundred and forty-six unless a notice in writing of the mortgagee’s intention to foreclose the mortgage has been mailed, postage prepaid, by registered mail with return receipt requested, to the defendant sought to be charged with the deficiency at his last address then known to the mortgagee, together with a warning of liability for the deficiency, in substantially the form below, not less than twenty-one days before the date of the sale under the power in the mortgage, and an affidavit has been signed and sworn to, within thirty days after the foreclosure sale, of the mailing of such notice. A notice mailed as aforesaid shall be a sufficient notice, and such an affidavit made within the time specified shall be prima facie evidence in such action of the mailing of such notice.

Massachusetts Foreclosure Notice of Sale
Massachusetts foreclosure law states that the notice of the foreclosure must be published once a week for three weeks in a newspaper of general circulation in the town where the land is located. The first publication must be at least 21 days before sale. Notice must also be sent by registered mail to any owner whose interest was recorded as of 30 days prior to the sale. The actual date of mailing must be at least 14 days prior to the foreclosure sale.

Persons authorized to redeem The mortgagor or person claiming or holding under him may, after breach of condition, redeem the land mortgaged, unless the mortgagee, or person claiming or holding under him, has obtained possession of the land for breach of condition and has continued that possession for three years, or unless the land has been sold pursuant to a power of sale contained in the mortgage deed.

Right of redemption after Massachusetts Foreclosure Auction
Section 35. If, after the foreclosure of a mortgage not containing a power of sale, the person entitled to the debt recovers judgment for any part thereof on the ground that the value of the land mortgaged at the time of the foreclosure was less than the amount due, such recovery shall open the foreclosure, and the person entitled may redeem the land although the three years limited therefore have expired, if suit for redemption is brought within one year after the recovery of such judgment.

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Rhode Island Foreclosure Laws

Rhode Island Foreclosure is Non-Judicial.

Time Line/Non-Judicial (Statutory) Rhode Island Foreclosure
Day 1 Day 7 Day 38 Day 60 Day 70
Receive file; order title Receive title; mail FC ntcs First legal advertisement Sale held Record deed

If attorney prepares and mails demand/acceleration letter, the following time line will apply.

Day 1 Day 31 Day 52 Day 74 Day 84
Receive file; order title; send demand Mail FC notices First legal advertisement Sale held Record deed

Complaint to foreclose.
Rhode Island foreclosure law states that any person entitled to foreclose the equity of redemption in any mortgaged estate, whether real or personal, may prefer a complaint to foreclose it, which complaint may be heard, tried, and determined according to the usages in chancery and the principles of equity.

Right of Mortgagee to Bid at Rhode Island Foreclosure Sale.
At any sale by public auction made under and according to the provisions of any mortgage of real estate, or of any power of sale contained therein or annexed thereto, the mortgagee in the deed of mortgage or other conveyance, or pledgee, his, her, or their assigns, or his, her, or their heirs, executors or administrators, or any person for him, her, or them, may fairly and in good faith bid for and purchase the estate or property so put up for sale, or any part thereof, in the same manner as it may be bid for and purchased by any other person.

Discharge of Purchaser at Rhode Island Foreclosure Sale by Payments to Mortgagee.
The receipt in writing of a mortgagee shall be a sufficient discharge for any money accruing from sales made under the powers of sale conferred by his or her mortgage; and a person paying it to the mortgagee shall not be obliged to inquire whether any money remains due under the mortgage, or to see as to the application of such proceeds in case of sale.

Publication of Notice under Power of Sale.
Whenever any real estate shall be sold under any power of sale mortgage executed subsequent to May 4, 1911, and the mortgage shall provide for the giving of notice of the sale by publication in some public newspaper at least once a week for three (3) successive weeks before the Rhode Island foreclosure sale, the first publication of the notice shall be at least twenty-one (21) days before the day of sale, including the day of the first publication in the computation.

Provided, however, that no notice shall be valid or effective unless the mortgagor has been mailed written notice of the time and place of sale by certified mail return receipt requested at the address of the real estate and, if different, at the mortgagor’s address listed with the tax assessor’s office of the city or town where the real estate is located or any other address mortgagor designates by written notice to mortgagee at his, her, or its last known address, at least twenty (20) days for mortgagors other than individual consumer mortgagors, and at least thirty (30) days for individual consumer mortgagors, days prior to the first publication, including the day of mailing in the computation. The mortgagee shall include in the foreclosure deed an affidavit of compliance with this provision.

Mortgage foreclosure advertisement.
An advertisement for a Rhode Island foreclosure may, if describing the real estate being foreclosed, describe the real estate to be foreclosed by metes and bounds description and street address, or by recitation of the taxing authority’s assessor’s plat and lot designation and street address, or by recitation of the book and page of mortgage and street address.

Rhode Island Foreclosure Sale
The sale must be made by the sheriff of such county, or his deputy, between the hours of 9:00 am and 5:00 pm to the highest bidder. Any person including the mortgagee (lender) may bid at the sale. The winning bidder will receive a certificate of sale.

Deficiency Judgments
Obtaining deficiency judgments and actions for possession require “judicial steps” and are performed separately from the Rhode Island foreclosure sale.

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Even innocent people go to jail!

Our country has a history of aggressively pursuing and placing innocent people in jail and considering them criminals because they broke a current law that was later proven to be unjustified. For example, it use to be against the law for a slave to escape and the punishment was extremely harsh. In 1955 Rosa Parks was arrested for refusing to sit in the back of a bus. Only 70 years ago, a citizen was considered a criminal if he/she possessed an alcoholic beverage (alcohol prohibition 1920-1933) and would be placed in jail. Our country use to deny women the right to vote. Fortunately, America decided to change these laws and stop classifying those who broke them as criminals.

The docile marijuana users of this nation are not criminals either just as those mentioned above were not criminals. Unfortunately 830,000 citizens are jailed each year (2006) for violating unjustified marijuana laws. This could happen to you and if it does, you will have to spend time in jail with violent criminals, pay a bond and hire a lawyer hoping you are not sentenced to a lengthy prison term. Many people will consider you a criminal which is very embarrassing and can be very damaging to your reputation. All of this can be avoided by watching Barry’s videos.

Maybe you’re in possession and don’t know it

Do you have friends that might use or possess illegal substances? If your friend accidentally leaves a marijuana seed in your car and the police find it in a search, YOU CAN BE ARRESTED! If you or someone you know drops a prescription medication in your car and an officer finds it, YOU CAN BE ARRESTED! Can you always be sure you are not in possession? Practicing Barry’s tactics will save you hassles and jail time from somebody else’s mistakes.

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If convicted you may:

Spend thousands of dollars in fines and court fees
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If coffee grounds really work
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Police attitudes, hidden thoughts and motives

Barry’s videos have recently received global attention by being reported in over 300 newspapers and magazines across the world including an exclusive front page story in the Dallas Observer and Houston Press. The DVD features Barry Cooper who has been a guest on numerous radio and television programs including MSNBC Tucker Carlson, FOX Geraldo At Large, ABC I Caught, The Adam Corolla Radio Show, NBC Mike and Juliet Morning Show and the syndicated Todd and Tyler Radio Show. He was recently featured on the front cover of Cannabis Culture Magazine. and has also appeared in Rolling Stones Magazine, Radar Magazine and Don Diva Magazine.

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Here are some great videos showing you how to do home repairs, home improvement, and rehab, great knowledge for the do it your self repairs or rennovations to increase property values.

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