OfflineYesterday (Jan 7th, 2011), the Supreme Court in Massachusetts issued a ruling against two banks regarding foreclosures that may have nationwide implications. You can do a search on "MA Supreme Court Ruling foreclosure 2011" and a bunch of different local and national news reports will come up. A few reports noted this may throw all foreclosures into a very complicated legal process. Please chek this further if you play in the foreclosure area.
The Court upheld a lower court decision invalidating two foreclosures that may have national implications, analysts said. The lower court ruling challenged the way lenders have traditionally foreclosed on properties without having all the paperwork in place at the time a home is seized. Summary from the Boston Globe from Friday.
bostonjack, Start thinking POSITIVE. There are other strategies that work besides the foreclosure market.
dreamcastle, I think positive but just posted so other people are aware of this information that may impact a closing involving a foreclosure (especially in MA but may now apply elsewhetre). Knowledge is just one of the critical parts to success but may also allow one to figure out what if any changes someone may have to incorporate in their strategies. Have a great day and a great year investing.
bostonjack; I understand, but for me personally I find I find sooooo much knowledge,on this site that I get analysis paralysis and start looking for why strategies will not work instead of the opposite.
Has anyone else checked out this Ruling?
Andrew
All the rules have changed in the last couple of months. Lending banks are now being held accountable for the trap they set, borrowing money they didn't themselves have, while using loose and illegal practices in the process. The massive lawsuit against Wells Fargo / Wachovia, Indymac / OneWest bank, Citibank, Bank of America, JP Morgan Chase, GMAC..............can actually, not only put a stop to your foreclosure, but also pause your house payments with no loss to you............
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http://www.miamiforeclosures.com
Miami Real Estate Foreclosure
i am from Brighton,Ma and i have a question:Can you flip home without having a license. And i had call The Real estate Brokerage firm and spoke with investor Gill and he said that in order to get paid for real estate commission or finder's fee.That i need to get my license and become a salesperson and work underneath a real estate broker.i need solid foundation on this matter.can you please give meinsight on this please.
Thank You
Mr Iris Paige
Mr Iris paige
Sugarbrown- you will hear that from a lot of real estate "professionals". Each state is different, but you can always get paid without being an agent/broker, you might need to call your payment something creative (ie. research fee, etc.), but you can receive your money. A lot of agents/brokers will tell you what you heard because that is the only way they know how to operate. If they view themselves as a successful agent, why would they change what is working for them? It's not that they are necessarily trying to deceive you, it's just that they have little motivation to be well versed in the laws regarding real estate investing that don't apply to licensed agents. But, to be sure about your specific state, you should talk to a lawyer and/or go to a local Real Estate Investing Club meeting. The members of the club will know all about how the laws work and how you can successfully work those laws (they'll have good references for lawyers too).