[xxdcmast]

Anyone know any information regarding sites that list house foreclosures in mass. Im looking to get into the housing market and I think a foreclosure might be a good place to start.

Looking for cheap even better free sites that let you search foreclosed homes and auction dates etc.

Thanks

[ssg]

'housing market' as in - investments, or your own tenancy?

I don't know any listing places, but trulia.com and zillow.com are reasonable for searching new listings (sometimes foreclosed pop up).
As far as getting the auction listings - that I have zero idea on.

[rjh200]

Your local paper is the best free option. By legal obligation any forclosure auction must be listed in the legal notices section. Other than that maybe start contacting local banks.

[RandyO]

maybe there is a publication in MA similar to this

[Stoneman]

It's been almost 10 years since we bought our last house, so maybe things've changed. But back when we bought this place, it was extremely difficult to get financing for foreclosures - almost impossible. As I said though, maybe that's all changed now...

[Josephd14]

It's still hard, although maybe not as hard as it was 10 years ago, considering they hand out mortages like free napkins these days, you have to have alotta cash at hand..

[Stoneman]

Originally Posted by josephd14

It's still hard, although maybe not as hard as it was 10 years ago, considering they hand out mortages like free napkins these days, you have to have alotta cash at hand..

I remember the cash-on-hand thang. And I know that there's only a coupla places (around here) that deal with foreclosure loans. Other than that though, I can't remember a fookin' thing about 'em...

[slaps76]

I didn't think there's a different loan for a foreclosure, but when you're at an auction, you have to put a chunk of cash down on the spot if you win....then it's yours. Obviously you'd have to have a mortgage all lined up & ready to go. Like car auctions, I'm sure plenty of people overpay, thinking they're getting a great deal.

The best way to get a deal, but also the hardest, is find people who need to get rid of their house fast, before they go to a realtor, then give a lowball offer. That takes work...I talked to one investor who goes to the courts and looks up lawsuits against landlords, then sends them unsolicited mail about how he buys houses, hoping to get one who is finally sick of dealing with the crap.

[ssg]

Originally Posted by slaps76

I didn't think there's a different loan for a foreclosure, but when you're at an auction, you have to put a chunk of cash down on the spot if you win....then it's yours. Obviously you'd have to have a mortgage all lined up & ready to go. Like car auctions, I'm sure plenty of people overpay, thinking they're getting a great deal.

Bingo - go searching for foreclosure loans and you'll find them.

Or just get preapproved with any bank and so long as you can tender the goods with the selling titleholder you're fine.

[Josephd14]

I always thought the bankk still had to approve it? but that just me.. I mean I'm sure they will be more then happy to give you $300K for a house worth $150K..

[FastJohnny]

Originally Posted by xxdcmast

Anyone know any information regarding sites that list house foreclosures in mass. Im looking to get into the housing market and I think a foreclosure might be a good place to start.

Looking for cheap even better free sites that let you search foreclosed homes and auction dates etc.

Thanks

I worked for my mother as a paralegal for a couple years. She specialized in Ch.13 Bankruptcy (bankruptcy to save someone who is in foreclosure.)

This information is readily available at the Land Court in Boston, BUT, they really don't want you to have it! It costs $1 a page to print it out, you can only query 2 weeks at a time, and the printer it prints on print 2 pages a minute. Not to mention parking in the lot next door is $10-$15.

The online sites are updated daily, allow you to download as plain text or formatted for Excel, but they are just as expensive. I got my mother to switch over to one of the sites which is actually run by Shapiro & Kreisman (a large foreclosure firm), they give the heads up on their foreclosures before they are even filed at the Land Court. You pay for each County you want to stay informed on, and I think it's like $20/ea a month.

Of course when all Ch.13 Attorney's charge a flat rate of $3000 a case, they can afford this. Likewise someone looking to make a living flipping houses will also benefit from being able to pick the houses up dirt cheap and can afford this as well.

If there's anything else, let me know.

[MissTwisties]

Wow...I see a ghost. What's up Johnny boy?

[Trackday Guru]

Originally Posted by FastJohnny

I worked for my mother as a paralegal for a couple years. She specialized in Ch.13 Bankruptcy (bankruptcy to save someone who is in foreclosure.)

WRONG, WRONG, WRONG.

A Chapter 13 is a reorganization of debt which is regulated, and monitored by the court system, as opposed to Chapter 7 which where the court awards you the right to "walk away" from owed debts with no recourse from the creditors. A Chapter 11 is simply a bankruptcy filed by a business.

(13 years in real estate finance, I won't say where.....but I will say it's just "not your typical" lender )

Now that we've all enjoyed this foray into bankruptcy law, I'll get to the point...there's only one effective way I know of to obtain (cheaply) a listing of foreclosures, and that's by subscribing to a real estate registry newsletter in your area. You can obtain one either via the internet, or call a local real ester title company and ask them which ones are common to your area.

Other posters, however, are correct....sometimes it can be difficult to obtain financing for foreclosures, but not for the reasons they lead you to believe....It is only difficult mainly due to repairs needed (if any) in the house for sale, and how difficult to deal with the bank or lender that holds the title to the home is. For example, Countrywide is extremely difficult to deal with if they own a forclosed home and are acting as the seller. The transaction must be signed off on by by so many levels of management it is often impossible to meet the dealines on the Purchase and Sales agreement. Therefore some lenders will not be able to complete the deal.

Your local newspaper is worthy of a look - but I gather you are trying to obtain those "secret" home listings that will reduce the amount of other auctioners present at the aution and therefore reduce the ownership cost........don't bother. Every forclosure must be listed in the local paper by law. So you and everyone else looking for foreclosures will be seeing the same listing no matter where you get it from. The registries will have all of them listed by week for your easy reading though......

Good Luck.

[xxdcmast]

Originally Posted by Trackday Guru

WRONG, WRONG, WRONG.

A Chapter 13 is a reorganization of debt which is regulated, and monitored by the court system, as opposed to Chapter 7 which where the court awards you the right to "walk away" from owed debts with no recourse from the creditors. A Chapter 11 is simply a bankruptcy filed by a business.

(13 years in real estate finance, I won't say where.....but I will say it's just "not your typical" lender )

Now that we've all enjoyed this foray into bankruptcy law, I'll get to the point...there's only one effective way I know of to obtain (cheaply) a listing of foreclosures, and that's by subscribing to a real estate registry newsletter in your area. You can obtain one either via the internet, or call a local real ester title company and ask them which ones are common to your area.

Other posters, however, are correct....sometimes it can be difficult to obtain financing for foreclosures, but not for the reasons they lead you to believe....It is only difficult mainly due to repairs needed (if any) in the house for sale, and how difficult to deal with the bank or lender that holds the title to the home is. For example, Countrywide is extremely difficult to deal with if they own a forclosed home and are acting as the seller. The transaction must be signed off on by by so many levels of management it is often impossible to meet the dealines on the Purchase and Sales agreement. Therefore some lenders will not be able to complete the deal.

Your local newspaper is worthy of a look - but I gather you are trying to obtain those "secret" home listings that will reduce the amount of other auctioners present at the aution and therefore reduce the ownership cost........don't bother. Every forclosure must be listed in the local paper by law. So you and everyone else looking for foreclosures will be seeing the same listing no matter where you get it from. The registries will have all of them listed by week for your easy reading though......

Good Luck.

Im not really trying to find the "secret" listings that noone else knows about. I know I am going to be in an auction with other people trying to do the same thing as me but even if I go to the auction and can knock off an extra 10000 dollars of what the house would be private sale then I think it is worth it.

Any ideas where to find these registries of foreclosures for suffollk county.

[MissTwisties]

Try this....free trial.... isoldmyhouse

[ssg]

Originally Posted by xxdcmast

Im not really trying to find the "secret" listings that noone else knows about. I know I am going to be in an auction with other people trying to do the same thing as me but even if I go to the auction and can knock off an extra 10000 dollars of what the house would be private sale then I think it is worth it.

Any ideas where to find these registries of foreclosures for suffollk county.

The registry of deeds, but don't go by their website.

google it though, I am sure they have a site.

[FastJohnny]

So I was wrong how?

Ch.13 is the only bankruptcy you can file once your in foreclosure that will actually stop your house from being auctioned off. It imposes a relief from the automatic stay as soon as it's filed. I've filed cases at the bankruptcy court in Worcester as little as 15 minutes before the start of an auction and called the foreclosing atty's with the case number from across the street on a cell phone and ended the auction. Now you can file everything with the bankruptcy court electronically so those stressful mornings of having to make it to Worcester before a certain time are over.

Ch.13 is considered an individual reorganization, while a Ch.11 is a business reorganization. Ch.13 allows you to take what you owe and pay it back in a Ch.13 plan payment over 3-5 years.

Some things get paid back 100%:

Mortgage Arrears
Foreclosing Atty's Fees
Your Atty's Fees
Secured Loan Arrears
Taxes newer than 3 years old
and any other secured debt included in the plan, although most of the time large prinicipal's are paid outside the plan.

Everything else is paid back somewhere between 10% and 100% based on how much overall equity you have. You are allowed exceptions up to a certain dollar amount for your car, clothes, house, tools, etc. If you have equity that does not fit within these exceptions you pay more. Basically a creditor must be paid what they would get out of a Ch.7. Its been a year or so since I've done this so I forget the exact formula.

Usually a debtor ends up paying somewhere in the neighborhood of $400/month for 3 to 5 years.

[rjh200]

Originally Posted by Trackday Guru

WRONG, WRONG, WRONG.

A Chapter 13 is a reorganization of debt which is regulated, and monitored by the court system, as opposed to Chapter 7 which where the court awards you the right to "walk away" from owed debts with no recourse from the creditors. A Chapter 11 is simply a bankruptcy filed by a business.

(13 years in real estate finance, I won't say where.....but I will say it's just "not your typical" lender )

Now that we've all enjoyed this foray into bankruptcy law, I'll get to the point...there's only one effective way I know of to obtain (cheaply) a listing of foreclosures, and that's by subscribing to a real estate registry newsletter in your area. You can obtain one either via the internet, or call a local real ester title company and ask them which ones are common to your area.

Other posters, however, are correct....sometimes it can be difficult to obtain financing for foreclosures, but not for the reasons they lead you to believe....It is only difficult mainly due to repairs needed (if any) in the house for sale, and how difficult to deal with the bank or lender that holds the title to the home is. For example, Countrywide is extremely difficult to deal with if they own a forclosed home and are acting as the seller. The transaction must be signed off on by by so many levels of management it is often impossible to meet the dealines on the Purchase and Sales agreement. Therefore some lenders will not be able to complete the deal.

Your local newspaper is worthy of a look - but I gather you are trying to obtain those "secret" home listings that will reduce the amount of other auctioners present at the aution and therefore reduce the ownership cost........don't bother. Every forclosure must be listed in the local paper by law. So you and everyone else looking for foreclosures will be seeing the same listing no matter where you get it from. The registries will have all of them listed by week for your easy reading though......

Good Luck.

I can verify that Countrywide sucks ass to work with. If you see a forclosure and they hold the title save your time and money. It is a long story but I tried buying a house that they held the title for and it cost me 10 months of my time and 5+ thousands of dollars only to have it yanked out from under me to be sold at auction.

[xxdcmast]

Originally Posted by somestrangeguy

The registry of deeds, but don't go by their website.

google it though, I am sure they have a site.

Google the registry of deeds for what? I have been to the registry of deeds to find specific info on a property but never saw anything about searching for foreclosures on there.

[Josephd14]

I didn't think you could file a chap. 7 anymore, and clear your debt... I thought it had to be a chap. 13 type where you have to make payments handled by the court..

[FastJohnny]

They revamped all the Bankruptcy Code in 2005. You can still file a 7 it is just a lot more difficult.

[Trackday Guru]

Sorry for the delay, I haven't been following this thread......

Here in NH there is a weekly publication that lists (by county) all foreclosures, new development sites by builder, all tax leins (by town), etc.

I won't post the name of the pub or where you can get it here but if you PM me I'll give give you the info.

I'm not sure 'bout Mass. But I assume they have the same type of pub somewhere out there......

Best bet is to contact a local Real Estate Title attorney and inquire.

Good luck.

Originally Posted by xxdcmast

Anyone know any information regarding sites that list house foreclosures in mass. Im looking to get into the housing market and I think a foreclosure might be a good place to start.

Looking for cheap even better free sites that let you search foreclosed homes and auction dates etc.

Thanks

[RandyO]

Originally Posted by Trackday Guru

Sorry for the delay, I haven't been following this thread......

Here in NH there is a weekly publication that lists (by county) all foreclosures, new development sites by builder, all tax leins (by town), etc.

I won't post the name of the pub or where you can get it here but if you PM me I'll give give you the info.

I'm not sure 'bout Mass. But I assume they have the same type of pub somewhere out there......

Best bet is to contact a local Real Estate Title attorney and inquire.

Good luck.

link to Registry Review already posted, Also available for Vermont