From the category archives:

Mortgage Crisis

Ibanez Foreclosure Case Heading To Massachusetts High Court?

by Richard D. Vetstein, Esq. February 22, 2010 Foreclosure

For those of you following the controversial U.S. Bank v. Ibanez case, which invalidated potentially thousands of foreclosures across the state, both sides last week asked the Massachusetts Supreme Judicial Court to take the case — as I originally predicted. The SJC’s acceptance of the case would cut months to years off the normal appellate [...]

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Massachusetts Real Estate Law Year In Review: Top Posts Of 2009 And Predictions For 2010

by Richard D. Vetstein, Esq. December 28, 2009 Closings

In the spirit of the New Year, let’s look back at the top legal issues of the past year and peer into the crystal ball for a glimpse at 2010.
Top 5 Posts For 2009
#1. The Catch-22 Impact of New Fannie Mae Condominium Regulations. In January, Fannie Mae was the first government agency to drop a [...]

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Ibanez Ruling Foreclosure Update: Nothing Much To Report

by Richard D. Vetstein, Esq. December 23, 2009 Foreclosure

Update (2/25/10)–Mass. High Court May Take Ibanez Case
I’ve been asked several times recently for an update on the status of Land Court judge Keith Long’s controversial ruling in U.S. Bank v. Ibanez, which invalidated thousands of foreclosures across Massachusetts. Click here for my prior post on the case.
Unfortunately for those affected by the decision, not [...]

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With Real Estate, Tough Options For Massachusetts Divorcing Spouses In This Economy

by Richard D. Vetstein, Esq. December 2, 2009 Divorce

Divorce, unfortunately, often plays a major role in real estate transactions and decisions. The tough economy has added insult to injury for those unfortunate souls facing divorce in Massachusetts.
Quincy, Massachusetts Divorce and Family Law Attorney Gabriel Cheong offers great advice on his blog, the Massachusetts Divorce Lawyer Blog, about what to do if you are [...]

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Short Sales Get Boost From New Obama Treasury Guidelines

by Richard D. Vetstein, Esq. December 1, 2009 Foreclosure

The Obama administration on Monday set long-awaited guidance on a plan for mortgage companies to speed up short sales of homes and other loan modification alternatives to stem the rising tide of foreclosures. The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which [...]

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Lenders To Appeal Controversial Ibanez Foreclosure Ruling Of Massachusetts Land Court

by Richard D. Vetstein, Esq. November 3, 2009 Foreclosure

Banker and Tradesman is reporting that Wells Fargo and U.S. Bank will appeal the controversial U.S. Bank v. Ibanez Massachusetts Land Court decision that stung the lenders earlier this year by invalidating two foreclosures in Springfield because of improperly recorded mortgage assignments.
Lenders filed the appeal on Oct. 29, according to Lawrence Scofield, a senior real [...]

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The Long And The Short Of It: A Massachusetts Short Sale Legal Primer

by Richard D. Vetstein, Esq. October 21, 2009 Massachusetts Real Estate Law

A short sale is special type of real estate transaction between a homeowner, his mortgage holder, and a third party buyer. In a short sale, the homeowner’s mortgage company agrees to take less than what is owed on the outstanding mortgage, thereby being left “short.” In some but not all cases, the lender will agree [...]

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Massachusetts Land Court Reaffirms Controversial Ibanez Ruling Invalidating Thousands Of Foreclosures

by Richard D. Vetstein, Esq. October 14, 2009 Foreclosure

Update (2/25/10)–Mass. High Court May Take Ibanez Case
Today, Massachusetts Land Court Judge Keith Long reaffirmed his controversial ruling made back in March 2009 that invalidated foreclosure proceedings involving two Springfield homes because the lenders did not hold clear titles to the properties at the time of sale. A copy of the decision can be found [...]

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The Catch-22 Impact Of New Fannie Mae (FNMA) Condominium Lending Regulations

by Richard D. Vetstein, Esq. July 1, 2009 Condominium Law

Recent Fannie Mae (FNMA) condominium lending regulations are beginning to live up to the hype as having an onerous impact on condominium sales and project development. The changes, made in January, were part of an effort by mortgage giants Fannie Mae and Freddie Mac to limit risky lending in a segment of the housing market [...]

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New Stricter FHA Condominium Lending Regulations and Guidelines Sure To Slow Financing And Chill Sales

by Richard D. Vetstein, Esq. October 6, 2009 Condominium Law

Update: 11/10/09–THESE RULES HAVE CHANGED. Please see my post: FHA Issues Final Revised Guidelines–Spot Approvals Extended Until Feb. 1, 2010
Update: 10/26/09–The FHA Has Delayed Implementation Of New Rules Until December 7, 2009

Under revised guidelines which were to be effective October 1, 2009 but now delayed until November 2, 2009, the Federal Housing Administration (FHA) [...]

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Massachusetts Property Values: An Appraiser’s Outlook And Predictions On Future Massachusetts Property Values

by Richard D. Vetstein, Esq. July 31, 2009 Appraisals

I’m pleased to have Donald J. Griffin, MAI, SRA, an experienced appraiser with Don Griffin Appraisals, Inc., who is here to guest blog about a topic very much on the mind of Massachusetts homeowners, buyers and sellers: Massachusetts property values.
What Happened? The Last Three Years

The Massachusetts real estate market was artificially stimulated by forces outside [...]

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Massachusetts Land Court Ruling in Ibanez Foreclosure Case Reportedly “Imminent”

by Richard D. Vetstein, Esq. October 9, 2009 Foreclosure

Breaking News (10/14/09)–Land Court Reaffirms Ruling Invalidating Thousands of Foreclosures. Click here for the complete decision and analysis.

Boston Globe reporter Jenifer McKim today is reporting that Massachusetts Land Court Judge Keith Long’s much anticipated ruling in the Ibanez v. U.S. Bank case, which invalidated thousands of foreclosures across the state, could come as early as [...]

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Ibanez Update: Massachusetts Land Court Decision Invalidates Foreclosures Based On Post-Sale Assignments

by Richard D. Vetstein, Esq. August 27, 2009 Foreclosure

Update (2/25/10)–Mass. High Court May Take Ibanez Case
Breaking News (10/14/09)–Land Court Reaffirms Ruling Invalidating Thousands of Foreclosures. Click here for the updated post.

In late March of this year in the case of U.S. Bank v. Ibanez, Massachusetts Land Court Judge Keith C. Long issued one of the most controversial rulings in recent years which has [...]

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Massachusetts Foreclosures Down Almost 60%, A Good Sign or Statistical Aberration?

by Richard D. Vetstein, Esq. June 30, 2009 Foreclosure

The Boston Globe is reporting that foreclosures in Massachusetts took a steep dive in May, the second consecutive month they have fallen, according to data released yesterday by Boston real estate tracking firm Warren Group.

According to the Globe, there were 582 foreclosure deeds recorded in May, a 58.6 percent decrease from 1,405 during the same [...]

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