Lowell Home for Sale: 60 New York St – 01854

Lowell Home for Sale:

 60 New York St – 01854

60 New York St, Lowell

listed originally at $260,000 on December 2

6 rooms, 3 bedrooms, 2.5 baths

2,0146 sf living area

1 garages

.16 acres

built 2005

This home is 2 blocks from UMass Lowell and .25 miles from Dracut.  It is a HUD home (bank owned) and needs some loving.  Take a look at the pictures – there’s LOTS OF SPACE in this very young colonial with a walk-out basement that could be finished off as well.

This home is currently missing a stove, refrigerator, and front door of the dishwasher and it needs serious carpet cleaning or replacement.  Call me today (I’m Debbie) at 603-318-6953 and we’ll see how you can make this your house!

If you are interested in other bank owned properties in Lowell check them out!  When you find one your want to see (or more…), give me a call at 603-318-6953 and we can schedule your showing!  Some foreclosed homes in MA need a lot of work, but this HUD Homes in MA only needs a little bit to make it shine!


MA Foreclosure 284 Washington St, Haverhill 01832

MA Foreclosure 284 Washington St, Haverhill 01832

284 Washington St, Haverhill MA

listed originally at $149,900 on September 15th, down to $119,000 as of November 11th

10 rooms, 6 bedrooms, 5 baths

4176 sf living area

1 garage and off street parking for 4 more cars!

.19 acres

built 1880


This beautiful old Victorian bank owned Haverhill multi family needs work.  It’s zoned as a 2 family currently and could possibly become a 3 family.  There are so many charming features in this piece of Haverhill real estate, it will be awesome to see if fully restored!  Look at the view from the 3rd floor – and room for expansion of a 3rd unit too!


If you are interested in getting a short sale or a bank owned property in Haverhill check them out in map view!  When you find one your want to see (or more…), give me a call at 603-318-6953 and we can schedule your showing!  Some Haverhill real estate bank owned properties need a lot of work, especially this one!  Are YOU up for the challenge?

listing information provided by Linda Kody of  Kody & Company

NH Foreclosure 1045 Bridge St, Pelham 03076

NH Foreclosure 1045 Bridge St, Pelham 03076

1045 Bridge St (aka 345 Gage Hill Rd), Pelham

listed originally at $344,900 on September 13th, down to $329,000 as of November 23rd

8 rooms, 3 bedrooms, 3 baths

2,0146 sf living area

3 garages!

2.4 acres

built 2003

This home is in great condition, located in east Pelham, just 7 minutes from the Rockingham Mall.  Since it’s been on the market this long, it’s undoubtedly going to drop it’s price again!  Not only that, but the home comes with the 2 year warranty offered by the bank!  Check it out:      

If you are interested in other bank owned properties in southern NH, check them out!  When you find one your want to see (or more…), give me a call at 603-318-6953 and we can schedule your showing!  Some NH foreclosure listings need a lot of work, but not this NH foreclosure! 


listing information provided by Steve Cotran of RE/MAX Area Real Estate Network

What Happens at a Foreclosure Auction?

What Happens at a Foreclosure Auction?

Last week I went to a Lowell foreclosure auction at 72-74 West 3rd St, Lowell.  This property had been listed as a short sale, but didn’t get any offers in time to postpone the auction.

Since I work with buyers, it’s important for me to know how to advise my buyers when they are thinking of putting an offer in on a short sale, a foreclosed property, or at a foreclosure auction.  In the last 3 years I have attended approximately 10 foreclosure auctions and only one of them was bought by a person (instead of the bank buying back it’s property).

In my opinion buying a property at a foreclosure auction has the most risk possible for a buyer, especially now!  Why is that?  Read more…

  • Usually the buyer makes his/her bid without seeing the inside of the property.  (At the foreclosure auction the owner stills has possession of the property and the bank does not, so it legally doesn’t have the right to enter the property and therefore is unable to show potential buyers.)  Typical auction buyers would know ahead of time that the property’s auction is imminent and may go and knock on the door of the property to ask to see inside, but the condition might change between then and when the auction happens…
  • A buyer is only bidding on the property to purchase it from the bank who has initiated the foreclosure proceedings (usually the first mortgage holder).  Upon winning the auction, the buyer is then responsible for any and all the other liens that might be attached to the property, including any unpaid taxes, water bills, 2nd or 3rd mortgages or mechanic liens, etc.
  • The buyer now is responsible to any tenant in the building and any cost necessary to evict them if necessary
  • The buyer is allowed to have an inspection after winning the auction, but the bank is selling in the “as is” condition and the buyer will lose his/her deposit if they choose to walk away from the purchase
The foreclosure auction I attended lasted approximately 5 minutes.  It had been advertised in the paper previously by Harmon Law office, as is necessary, informing any and all debtors or buyers of the auction.  In attendance were the auctioneer, a representative from Harmon Law (for the Bank of New York Melon Trust), 2 registered bidders, a client of mine, and 3 other witnesses.  The auctioneer read information about the bank and the owners and also terms and conditions of the sale (warning to all potential buyers) and then the bank bought back the property for $224,900. Seven years and more ago bidders were more likely to purchase the properties because the owners had not been “upside down” (owing more money than the property was worth), but now 98% or more are bought back by the bank.
If you would like to know more information about the differences between a short sale and a bank owned property or tips on purchasing at a foreclosure auction, call or text Debbie Kruzel at 603-318-6953.

NH Foreclosure opportunity in Nashua

NH Foreclosure opportunity in Nashua

Last week I took a buyer in to see the NH foreclosure listing at 77 Whitney Street in Nashua.  This buyer wanted a 3 bedroom home with a garage for under $100,000, if possible – THAT is a tall order!  So, if you’re looking for something similar, take a look at the information below (because my buyer decided that property was not for her).

77 Whitney Street, Nashua

listed originally at$99,900 on Sept 6th, down to $89,900 on Oct 8th

6 rooms, 3 bedrooms, 2 baths

1354 sf of living area

.13 acres

2 garages

built in 1880

 The kitchen has no stove or refrigerator, but this Freddie Mac NH foreclosure listing does have  a 2 year home warranty (as described on the flier at the property).  Also, the seller offers up to 3% back in buyer closing costs – which could be $2,700 on a $90,000 purchase!

If you are interested in a doing some work on a property, check for more NH foreclosure listings in southern NH now!  When you find one you want to visit, give me a call at 603-318-6953 and we’ll check it out!

listing information provided byPeggy Knoettner at Better Homes and Gardens Masiello


NH Foreclosure “steal” in Sandown

NH Foreclosure “steal” in Sandown

This week I took a buyer to see a NH foreclosure listing at 394 Main Street, Sandown.  This property left us with a lot of questions – what more might be wrong about it, but also what incredible possibilities could be done with it!  I haven’t been to many NH foreclosure listings that have been this old…see the details below, including pictures!

394 Main St, Sandown

listed originally at $239,900 on June 28th, down to $180,000 as of October 3rd

10 rooms, 4 bedrooms, 2 baths

3,319 sf living area

2 garages

4.10 acres

built 1887

The kitchen is completely gutted (as you can see here), thereby making this home need either a cash offer or a rehab loan (and a lot of “vision”.  Some of the updates already done are:  furnace, AC, roof and finished attic (but let me tell you – those steps are steep and skinny!)  Two of the “perks” of the home are the hardwood floors and beautiful tin ceilings and even some walls….

This home is owned by Fannie Mae and, as usual, they are offering up to 3.5% in buyer’s incentives (which can mean cash to cover closing costs…on a $200,000 purchase, that could mean $7,000 to help with closing costs!)

If you are interested in other bank owned properties in southern NH, check them out!  When you find one your want to see (or more…), give me a call at 603-318-6953 and we can schedule your showing!  Not all NH foreclosure listings need as much work as this NH foreclosure, so look at the pictures closely and you may find one in really great condition!

listing information provided by Peg Walther Prudential Verani Londonderry

Dracut Short Sale Completed 2 Years Ago, Bank Still Calling Seller for Money

Dracut Short Sale Completed 2 Years Ago, Bank Still Calling Seller for Money

I sold a Dracut Short Sale home TWO YEARS AGO and on several occasions over the last 2 years the homeowner has called to tell me about the bank calling them for the money!  (Mind you, these sellers had just one loan and the bank agreed to forgive the difference that was not paid through the sale!)


The original bank was Washington Mutual (who was bought out by JPMorgan Chase) AND the property in question was sold via short sale to a rehabber who fixed it up and now ANOTHER OWNER is living there.  Even though the bank is disorganized with their paperwork, they should simply look in the County Records at the recorded deeds for Dracut, don’t you think?!

Hear more here about the Dracut Short Sale:


I have done many other short sales in the last several years and have not heard this kind of drama from my other short sale sellers, so you should consider this the “exception to the rule”… but I know of many many other odd things that happen with homeowners and banks these days.

If you are thinking of doing a short sale in Dracut or another MA or NH town, call or text me for more information at 603-318-6953.  Also, look through the information I have here, on my blog under “Avoid Foreclosure Information“.

Great Salem NH Home For Sale

Great Salem NH Home For Sale!

20 Ticklefancy Lane is a beautiful Salem NH home located in the southwest corner of Salem.  As of today, the property has been on the market for just 4 days and has been almost completely overlooked by home buyers out there.

I have been in this property several times, first to preview, and later to take buyers through and each time it was in a little different condition.  Unfortunately, the property was not winterized before water froze in the pipes and when I first saw the property, many copper pieces were missing.  Since then I found out that pieces were removed to be fixed.  In addition, when I was there, the pool was looking much more like a pond than a pool, but I was also told that would be taken care of.  Finally, several of the vanities had been taken from the property (but were all to be replaced in the near future).

This Salem NH home has:

4 bedrooms

3 full baths and 2 half baths

3531 sf living area

.85 acres

2 car attached garage

built 2001

Assessed for $682,000 by the town of Salem NH

This Salem NH home is located on a road with homes valued from $500,000 to $800,000 – it is a rare find and well worth having a look at!  See the pictures below…you know, a picture is worth a 1,000 words, right?  :)

If you know of someone looking for a fantastic deal on a huge Salem NH home which is very commuter accessible, call Debbie at 603-318-6953 – originally listed at $461,340 and reduced twice to the current price of $449,340 – this is worth a look!

currently listed by the Zingales Team at Coco, Early & Associate  978-687-8484

Another Short Sale SOLD in Big Lake MN – 55309

Another Short Sale SOLD in Big Lake MN  - 55309

I have been working with Susan G. at Keller Williams on this property for about 1.5 years.  Why do I tell you that?  Because you might want to know what to expect (as a buyer or a seller) during a short sale.

Beautiful home, Trulia says the 3 bedroom, 3 bath home sold for $223,000 back in August 2004 – this week it sold for $126,000.  This couple definitely qualified for a short sale and we started working the first buyer’s offer in November 2010.  There were 2 banks involved, both with Wells Fargo.  (You might think that would make it easier, but since the 2nd mortgage was with WF Home Equity, it might as well been with Chase or Bank of America or anyone else.)

I have done several short sales, and the beginning steps started out very predictably:

  • submit all paper work
  • the bank orders an appraisal (or BPO “broker’s price opinion” which costs about 25% of an appraisal)
  • bank counteroffers.

First problem: BPO came in at least $10,000 more than it should have, but the bank wouldn’t listen to what Susan said the value of the house was even though they required lots of documentation of other comparable homes.

Next problem: buyer didn’t want to accept the counteroffer of the bank, they waited weeks to respond and by that time the short sale file was closed and it took a lot of persuasion to re-open the file.

Next problem: once the buyer’s new offer went in, the BPO was “out dated” – the bank must do a new BPO every 90 days during the short sale process.  Also, the home owner must submit their updated bank statements and pay stubs about every 6-8 weeks as well.  (You can see how tedious this is already, right?)  Oh yeah – and since 2010 taxes were filed April 15th, we had to submit the new tax return as well!

Finally mid-May the banks started their “STAND OFF”.  The 1st mortgage holder said they would give their short sale approval after they saw the second’s and the second’s said they were waiting for the first.  (Luckily all the banks seem to have worked this “hitch out” by mid 2010.)  This stand off continued for approximately 5 weeks and required multiple requests for escalation of the short sale.

Finally, the second gave their short sale approval on July 13th (7.5 months after the first short sale documents were submitted) and we continued to wait, despite me calling almost every other day, until August 11th, when WF said the file was finally complete and ready to send off to the investor, Freddie Mac for approval – which is estimated to take 7-10 business days.  (Most of the banks we work with are simply “servicers” for the investors and must have final approval from the investor…)

Next problem: even though the government had extended the tax credit for people to Sept. 30th, home prices across the country were dropping rapidly and the buyer WALKED AWAY from the sale! The buyer’s agent said that they were able to find a property that was bigger for less money since the prices had dropped.  (As a Realtor, I totally understand this and his duty to look out for the best interest of the buyer – it was just really painful to have worked 8 months on the file.)

Now what?  Find a new buyer for the short sale.  The home was foreclosed on in December, but MN has a redemption period, so the pressure was on to get a new buyer AND an approval before early June!

The next short sale package was submitted to the banks in early Jan 2011 and the whole process began again.  This time, from the start, I submitted the details of how badly the short sale was handled the first time and was pleasantly pleased at how quickly the process went.  We still had to have another BPO done, of course, but this time it was much truer to the value of the home and the counter offer from the bank was more realistic for the market (and almost a full $25,000 less than the value in 2010!).

We got the short sale approval from the first in record time, the end of February and then had difficulties getting the paperwork tracked down (with respect to recordings) of the second mortgage and finally an approval from them as well.

This short sale worked out for the home owner and many do not.  Many homeowners and buyers get completely fed-up during the short sale negotiations and just give up.  If you are looking to buy or sell a home and you know a short sale is inevitable, the most important thing for you is to have a strong team of people who have completed short sales!  Great communication is imperative for all parties!

Please contact me with any questions about short sales.  I work with 2 great negotiators in MA now (that have successfully negotiate short sales in many states across the country).  Certainly many many short sales are working for people, but other short sales are still falling apart for one reason or another.  If you want your’s to be successful, contact me today at 603-318-6953 to get all the facts!



Don’t Assume Trial Loan Modification Payments Will Save You

Don’t assume on-time trial loan mod payments will save you

BY BENNY KASS, TUESDAY, MARCH 29, 2011 – Published at Inman News

DEAR BENNY: I am having problems with my mortgage. I fell on some hard times lately and fell behind on my mortgage payments. My mortgage lender has been dragging this out for over a year. I have been set up on two separate trial payments and made them both with no problem. Now my loan has gone into foreclosure. The lender keeps telling me that I am under review. Can you tell me what options I have to try to keep my home? –Hodges

DEAR HODGES: During the recent winter season — with snow and lenders having legal problems when they did not have the original promissory note — the foreclosure rate throughout the country fell. However, with spring on the horizon, lenders are back to foreclosing.

Unfortunately, your situation is all too familiar. Lenders arrange payment plans, whereby the loan is modified, and even if the homeowner is diligent in making the requirement payments, suddenly the lender issues the foreclosure notice.

Communicating with lenders is often next to impossible. You have to call a phone number, and if you are lucky, you will finally get to talk to a real, live person. But that person often has no real authority, and if they see that you are now in foreclosure, you are told to talk with the attorney handling that procedure.

And if you can finally get to talk with the lawyer, he/she tells you that you have to discuss your situation directly with your lender.

It’s time to stop this merry-go-round called “chase the lender.” Here are a few suggestions:

First, if your lender is a national bank, contact the Office of Comptroller of the Currency and file a complaint. This is a federal agency that regulates national banks, and banks must respond to the OCC on any complaints within 10 days.

Next, contact the congressman and senators in your state. Presumably, you are a registered voter, and one of the responsibilities of a legislator is to resolve constituents’ issues.

Next, see if your state has any foreclosure-relief programs.

Finally, if all else fails, see if you can arrange a short sale, so that at least you won’t have a foreclosure on your record.

Thank you, Inman News, for providing this much needed information!  If you are in a similar situation to this homeowner or if you are sick of your loan modification terms because they’re not working for you, contact me at 603-318-6953 so you can learn what other options you have!  I have helped many many families over the last 3 years and can get your questions answered too!