Don't Become One of These Numbers

Below is an article I have copied from today's Banker and Tradesman Alert. Our market as you know is in crisis....but you do NOT have to destroy your credit and your pride with a foreclosure!

Call me to see if your situation qualifies for a Short Sale.

There is absolutely no guarantee that the lender will aprticipate in the short sale process or that they can do it in a time frame that is acceptable to the average buyer, however one thing is a guarantee - if you don't make your payments for whatever the reasons the bank WILL foreclose on the home.

Wouldn't you rather try this??? I have a 100% success ratio in preventing foreclosures for my clients. I work hard, know the ropes and have lender approved packages along with a support staff to maximize the chances for success.

Visit www.BerkleyMass.com



Mass. Foreclosures More Than Double In First Half Of ‘08

Foreclosures more than doubled in Massachusetts during the first half of the year compared to the same period last year, but fell slightly in June, according to a new report by The Warren Group, Banker & Tradesman's parent company.

A total of 6,707 foreclosure deeds were recorded during the first six months of 2008, up 117.6 percent from 3,083 a year earlier. Foreclosure deeds are the final step in the foreclosure process. June's foreclosures rose 50 percent to 1,131 from 756 in June 2007, but were 19.5 percent lower than May, when 1,405 deeds were recorded.

"The housing market has been battered by foreclosures this year. Suburban areas haven't felt the sting as much as homeowners in cities like Brockton, Dorchester, Lawrence and Lowell, which continue to be the hardest hit by this foreclosure crisis," said Timothy Warren, CEO of The Warren Group.

Meanwhile, petitions to foreclose - the first step in the process - fell sharply during the month of June. Lenders filed 350 petitions to foreclose in June, an 84.8 percent decline from 2,308 a year ago, and 10.3 percent lower than May, when 390 were filed. Year-to-date petitions increased a slight 1.4 percent to 13,076 from 12,899 in 2007.

A law that took effect at the beginning of May is postponing foreclosure petitions. Known as the right-to-cure law, the legislation requires lenders intending to foreclose to give delinquent borrowers 90 days to pay off loan defaults.

"Despite the temporary drop-off in foreclosure petitions over the last two months, overall foreclosure activity is consistently climbing. Thousands of homeowners are still at risk of losing their homes this year," Warren said.

Auction notices in June jumped 17 percent from 1,358 in June 2007 to 1,589. Year-to-date auction notices shot up 38.8 percent from 7,570 to 10,504.


Bobbie Files
Loss Mitigation Specialist
508-238-5000 x.296 Office

bobbiefiles@kw.com Email

www.BerkleyMass.com