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Archive for April 9th, 2008

New Massachusetts Law Creating 90-Day Right to Cure Default on Mortgage Loans »

On May 1, 2008 the new Massachusetts foreclosure law will go into effect. Most importantly for homeowners facing foreclosure is the new 90-day right to cure mortgage defaults before foreclosure.
The key to this new right is that legal fees and foreclosure costs cannot be imposed on consumers during the right-to-cure period. This is [...]

Massachusetts Announces Creation of Regional Foreclosure Prevention Centers »

Governor Patrick has announced $2 million in grants to support eleven regional foreclosure prevention centers.  The press release is available here.  These centers provide “outreach and assistance to homeowners in or approaching foreclosure as
well as to those borrowers who have already lost their homes.”  This link will take you to the state web site to [...]

Listing Debts Owed to Relatives in a Bankruptcy Case »

The bankruptcy law requires that every debt owed by the debtor be listed in the bankruptcy papers, and that the creditor be notified by the court of the bankruptcy proceedings.  The reasons for this are many, including fairness to creditors, allowing the trustee to understand the debtor’s financial affairs, and enabling all creditors to share in [...]

Family Pets One More Victim of Foreclosure »

The pain of foreclosure runs deep. According to an article in The Washington Post, “Losing a Best Friend Along With the House,” local animal shelters are reporting that 15% of animals received in the past two months are the result of foreclosure.
The story quotes Kathy Dillon, the operations coordinator at the Montgomery County, Maryland Humane [...]