1. Do nothing: Your bank forecloses and the bank evicts borrowers. Bank files suit to collect deficiency (amount between what is owed and what the property sells for at auction.)

2. Refinance: This may or may not be an option and depends on how much the borrower owes on the home & how much the home is worth (equity).  There are loan modifications available, every situation is unique and that is where we can help.

3. Deed in lieu of foreclosure: This is when an owner deed’s the property to the bank.  The Seller is forgiven any amount owed that is over the value of the property. Seller must immediately vacate the property. This option has a negative effect on credit, but may not be as negative as the bankruptcy option below.

4. Bankruptcy: This option may be useful if there is equity in the home to slow down the foreclosure action. If there is really no equity then a subsequent sale will still be a short sale and bankruptcy may not be a viable way to stop the foreclosure. Bankruptcy also can have a devastating effect on a borrower’s credit.

5. Short Sale: Short sale allows property to be sold, all taxes and all utilities and other debts associated with the property to be paid. The effect of a short sale on Seller’s credit is not as negative on Seller’s credit as deed in lieu of foreclosure or the bankruptcy options, as described above. The short sale may have a tax consequence.

If you are behind on your payments & think you may be headed in this direction, we want to help.  Angel’s Realty has successfully worked with sellers to help them make a good decision about what to do next.  We have found in many cases a short sale is the best option.  We have also become experts in the area of Short Sales and have a system in place that has proven to work.

We are in the process of building two websites specifically designed for people facing this situation www.preventforeclosuresite.com and www.helping2savehomes.com .  Please visit the websites to learn more about the process & request a free consultation.

This article was provided by Lisa Mahoney of Angel’s Realty located in Uxbridge, MA.  I can be reached anytime at 508-802-3436 or email lisa_mahoney@charter.net. 

Uxbridge, MA MArket Report October 2008

There were 5 homes sold in the month of October 2008 in Uxbridge, MA.  Here are the averages for the properties that sold:

*Average sale price $299,200 (up from last month)

*Average List Price $301,108 (up from last month)

*Average Days on Market 70

The above information is based on single family homes only in Uxbridge, MA only.

I am a Proud Member of Angel’s Realty located in Uxbridge, MA.  We are a dedicated, detailed oriented TEAM committed 100% to our clients…Specializing in properties that did not sell the first time!  We have the tools and the determination to get you where you want to be.    I dedicate this blog to all of my clients and future clients.  Lisa Mahoney can be reached at 508-802-3436 or via email at Lisa@angelsrealty.net. 

Servicing Worcester County area, including home sales in Northbridge, Uxbridge, Douglas, Sutton, Millville, Upton, Mendon, Hopedale and Grafton.

Upton, MA Market Report

4 homes sold in the month of October 2008 in Upton, MA.  Up from only 1 home sale last month.  Here are the averages for the properties that sold:

*Average Sale price $442,500

*Average List Price $461,871

*Average Days on Market 25

The above information is based on single family homes only in Upton, MA.  

I am a Proud Member of Angel’s Realty located in Uxbridge, MA.  We are a dedicated, detailed oriented TEAM committed 100% to our clients…Specializing in properties that did not sell the first time!  We have the tools and the determination to get you where you want to be.    I dedicate this blog to all of my clients and future clients.  Lisa Mahoney can be reached at 508-802-3436 or via email at Lisa@angelsrealty.net. 

Servicing Worcester County area, including home sales in Northbridge, Uxbridge, Douglas, Sutton, Millville, Upton, Mendon, Hopedale, Blackstone and Grafton.

Sutton Market Report October 2008

5 homes sold in the month of October 2008 in Sutton, MA.  That is up from only 3 homes in September.  Here are the averages for the properties that sold:

*Average Sale price $ 321,380

*Average List Price $329,940

*Average Days on Market 311

This month the price range between $450,000-$499,999 saw the most activity with 2 sales in Sutton, MA.  On average the home’s sale price for that range was 94% of the seller’s original listing price (not bad! J).

The above information is based on single family homes only in Sutton, MA.  

I am a Proud Member of Angel’s Realty located in Uxbridge, MA.  We are a dedicated, detailed oriented TEAM committed 100% to our clients…Specializing in properties that did not sell the first time!  We have the tools and the determination to get you where you want to be.    I dedicate this blog to all of my clients and future clients.  Lisa Mahoney can be reached at 508-802-3436 or via email at Lisa@angelsrealty.net. 

Servicing Worcester County area, including home sales in Northbridge, Uxbridge, Douglas, Sutton, Millville, Upton, Mendon, Hopedale, Blackstone and Grafton.

Northbridge, MA Market Report October 2008

14 homes sold in the month of October 2008 in Northbridge, MA.  That is up from only 10 homes in September.  Here are the averages for the properties that sold:

*Average Sale price $298,654

*Average List Price $304,250

*Average Days on Market 202

The above information is based on single family homes only in Northbridge, MA only. 

I am a Proud Member of Angel’s Realty located in Uxbridge, MA.  We are a dedicated, detailed oriented TEAM committed 100% to our clients…Specializing in properties that did not sell the first time!  We have the tools and the determination to get you where you want to be.    I dedicate this blog to all of my clients and future clients.  Lisa Mahoney can be reached at 508-802-3436 or via email at Lisa@angelsrealty.net. 

Servicing Worcester County area, including home sales in Northbridge, Uxbridge, Douglas, Sutton, Millville, Upton, Mendon, Hopedale, Blackstone and Grafton.

Millville, MA Market Report October 2008

1 home sold in the month of October 2008 in Millville, MA.  Here are the averages for the properties that sold:

*Average Sale price $55,000

*Average List Price $64,500

*Average Days on Market 108

The above information is based on single family homes only in Millville, MA only.  

I am a Proud Member of Angel’s Realty located in Uxbridge, MA.  We are a dedicated, detailed oriented TEAM committed 100% to our clients…Specializing in properties that did not sell the first time!  We have the tools and the determination to get you where you want to be.    I dedicate this blog to all of my clients and future clients.  Lisa Mahoney can be reached at 508-802-3436 or via email at Lisa@angelsrealty.net. 

Servicing Worcester County area, including home sales in Northbridge, Uxbridge, Douglas, Sutton, Millville, Upton, Mendon, Hopedale, Blackstone and Grafton.

Mendon, MA Market Report October 2008

3 homes sold in the month of October 2008 in Mendon, MA.  Here are the averages for the properties that sold:

*Average Sale price $360,800 (up from last month)

*Average List Price $366,567 (up from last month)

*Average Days on Market 381

The above information is based on single family homes only in Mendon, MA only.  

I am a Proud Member of Angel’s Realty located in Uxbridge, MA.  We are a dedicated, detailed oriented TEAM committed 100% to our clients…Specializing in properties that did not sell the first time!  We have the tools and the determination to get you where you want to be.    I dedicate this blog to all of my clients and future clients.  Lisa Mahoney can be reached at 508-802-3436 or via email at Lisa@angelsrealty.net. 

Servicing Worcester County area, including home sales in Northbridge, Uxbridge, Douglas, Sutton, Millville, Upton, Mendon, Hopedale, Blackstone and Grafton.

Hopedale, MA October 2008 Market Report

Grafton, MA Market Report

7 homes sold in the month of October 2008 in Grafton, MA.  Here are the averages for the properties that sold:

*Average Sale price $319,479

*Average List Price $333,343

*Average Days on Market 162

This month the price range between $350,000-$399,999 with 2 home slaes.  On average the homes that sold were within 89% of the seller’s original listing price.

The above information is based on single family homes only in Grafton, MA only.  

I am a Proud Member of Angel’s Realty located in Uxbridge, MA.  We are a dedicated, detailed oriented TEAM committed 100% to our clients…Specializing in properties that did not sell the first time!  We have the tools and the determination to get you where you want to be.    I dedicate this blog to all of my clients and future clients.  Lisa Mahoney can be reached at 508-802-3436 or via email at Lisa@angelsrealty.net. 

Servicing Worcester County area, including home sales in Northbridge, Uxbridge, Douglas, Sutton, Millville, Upton, Mendon, Hopedale, Blackstone and Grafton.

Douglas, MA Market Report October 2008

6 homes sold in the month of October 2008 in Douglas, MA.  That is up from only 4 homes in September.  Here are the averages for the properties that sold:

*Average Sale price $276,750

*Average List Price $280,600

*Average Days on Market 226

This month the price range between $200,000-$249,999 had the most sales activity in Douglas, MA.  That included two home sales, on average the home’s sale price was 90% of the seller’s original listing price.

The above information is based on single family homes only in Douglas, MA.  

I am a Proud Member of Angel’s Realty located in Uxbridge, MA.  We are a dedicated, detailed oriented TEAM committed 100% to our clients…Specializing in properties that did not sell the first time!  We have the tools and the determination to get you where you want to be.    I dedicate this blog to all of my clients and future clients.  Lisa Mahoney can be reached at 508-802-3436 or via email at Lisa@angelsrealty.net. 

Servicing Worcester County area, including home sales in Northbridge, Uxbridge, Douglas, Sutton, Millville, Upton, Mendon, Hopedale, Blackstone and Grafton.