Foreclosure in Boston

Every month in Boston there is a routine auction held for the disposal of foreclosed property through the process of a trustee or sheriff sale. In the foreclosure process, the primary lien holder has issued a notice of default and intent to foreclose to the Boston owner of record of the Boston property. As a primary lien holder, once the note is satisfied all additional non-governmental liens are dismissed and the property is transferred to whomever pays the note. Delinquency and default of current mortgages is going up monthly as evidenced by national housing statistics. This method of acquisition offers substantial profit potential, as the Boston properties can often be purchased well below their Boston market value.

A Boston foreclosure property is a home that has been repossessed by the Boston lender because the Boston owners failed to pay the mortgage. Like fixer-uppers, you may find these are often bargain-priced, but it is wise to be cautious of the legal and monetary risks when considering a Boston foreclosure. Many experts, in fact, advise inexperienced Boston buyers to hire an expert to take them through the process. It is important to have the Boston property thoroughly inspected and to be sure that any liens, undisclosed mortgages, titles and court judgments are cleared.

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