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Finance
Posted: May 7, 2008
Bank of Canton to participate in expanded mortgage relief fund
Bank of Canton is increasing its proactive efforts to assist homeowners in avoiding foreclosure. According to George DeMello, senior vice president of residential lending for Bank of Canton, the bank has joined as a participant in the Mass. Bankers Association (MBA) and Federal Reserve Bank of Boston's Mortgage Relief Fund Program.
The Mortgage Relief Fund was started by five regional banks in conjunction with the Boston Fed to assist borrowers facing rate adjustments and payment increases to avoid foreclosure. According to a survey released by the Warren Group, the number of foreclosure deeds recorded statewide more than doubled in February compared to a year earlier. To help combat this rising problem, the MBA has expanded the Mortgage Relief Fund to include community banks throughout the commonwealth.
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Finance
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Columns and Thought Leadership
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
