An article regarding Massachusetts Home Sales Rose Sharply in April was written by Boston Globe on May 14, 2013. More encouraging housing news…..

Excerpt of “Massachusetts Homes Sale Rose Sharply In April”

There were 5,948 single-family Massachusetts homes put under agreement in April, up 32.8 percent on a year-to-year comparison basis, the Massachusetts Association of Realtors, or MAR, said Tuesday.

That was the most homes that have gone under agreement in any month since the association began tracking data in January 2004, the association said in a press release.

Click here to read the full article.

For questions on this topic, contact Peter DaMore, Attorney at Law Offices of Peter T. DaMore Jr. at 781-229-7900 or pdamore@ptdlaw.com.

Single family and 2-family residential properties sold in the state of MA must be inspected by the fire department. They check for working smoke detectors and carbon monoxide detectors. They then issue a smoke certificate required for the closing. It is prudent for home owners to know the MA smoke detector rules and different kinds of smoke detectors in order to be in compliance (even if they are not planning to sell their home).

Different Kinds Of Smoke Detectors

Ionization and photoelectric at the two different types of smoke detectors. Each has different strengths and weaknesses relating to handling smoke versus flames.

Ionization Smoke Detectors

Ionization detectors contain two electrodes and current that runs between them. The presence of smoke interferes with this constant current and activates the alarm. This technology is better at detecting flaming fires but cannot differentiate between smoke and steam. Thus, they are likely to issue false alarms when placed near kitchens and bathrooms.

Photoelectric Detectors

Photoelectric smoke detectors use a beam of light. The presence of smoke or fire will scatter this beam and trigger the alarm. It is more effective at recognizing smoldering fire and is not as sensitive to false alarms from cooking or shower steam.

MA Smoke Detector Rules

MA laws dictate the kinds and placement of smoke detectors in single family and two-family buildings. The rules differ depending on when a property was constructed or significantly altered. The following is an overview of the installation of smoke detectors within a property.

Additional Information

More details on MA smoke detector rules can be viewed at http://www.mass.gov/eopss/agencies/dfs/dfs2/osfm/fire-prev/smoke-alarm-regulations.html. Note that this information is just an overview, must not be interpreted as legal advice and may change without notice. Additionally, cities can impose additional rules beyond state mandated ones. Contact your local fire department for full and up-to-date information for your home.

Foreclosures are abundant and so is the misinformation on them. It is critical for current and future home owners to understand the facts. This blog covers Burlington MA foreclosure facts and advice for property owners.

Common Misinformation About Foreclosure

You Can Not Get Help Until You Stop Paying

Home owners can apply for loan modification and other assistance programs before missing any monthly payments. These programs assess your financial condition to figure out eligibility.

There Are No AlternativesOptions After the Foreclosure Notice Is Issued

Lenders take a bigger loss on foreclosure. Even when foreclosure proceedings have begun, lenders can still work out a solution to prevent foreclosure. A short sale is one solution prior to a finalized foreclosure. Short sales consist of finding a buyer for your property and getting the lender to allow a price below the amount owed.

You Must Move Out Right After the Foreclosure Notice

The foreclosure notice is only the first step in a lengthy process and it typically is not issued until you have missed several payments. It may take an extended period of time for a lender to get through the necessary process to evict you from a residence. Although you do not need to immediately leave your property, you should plan for it.

I Can Never Buy Another Property

Although a foreclosure impacts future lenders and severely drop your credit profile, you may still be able to get approved for another mortgage in the future. It is important to demonstrate good credit practices to increase your score during that time. Creditors may charge you a higher mortgage rate and request a larger down payment to minimize the risk of lending to you.

The Lender Takes All of My Belongings

Furniture, clothes, and other personal belongings are still yours. Only items attached to the property must remain. This includes flooring, light fixtures, plumbing, etc. Consider what you would usually leave behind if you were selling the property and use that as a general guideline.

I Do Not Owe Anything After Foreclosure

After foreclosure, a residence may sell for less than what owed to the bank. You are legally responsible for that balance. There may be ways for the bank to “charge-off” the balance. Consult with a local attorney for detailed options.

Burlington MA Foreclosure Facts And Advice For Property Owners

There are many other myths and facets of foreclosure beyond what is covered above. Procedures may vary from state to state as well. This article on Burlington MA foreclosure facts and advice for property owners is only a general overview. Be sure to get legal guidance if you are in danger of foreclosure, and do so before you miss any payments.

Homestead protection is available to Massachusetts homeowners and protects their equity from unsecured creditors. This is an essential law for any homeowner. The Massachusetts homestead law details below addresses the most important aspects of this law.

What Is Protected

Homeowners build equity in a home over the years. This equity may not be much in the first few years of ownership, but will increase to a larger amount over time. There are scenarios where creditors or other parties may go after that dollar value to cover a financial responsibility of an individual. Shielding it may be critical.

Should a parent who declared homestead passes away, the homestead law protects the right of the family to occupy the property. The equity in the residence (up to a certain amount) may not be used to pay off the unsecured debts of the deceased individual. This includes spouses and children. This is just one example of many different scenarios where homestead protection could save you from losing your home.

Massachusetts Homestead Law Details

Massachusetts property owners get protection of one-hundred and twenty-five thousand dollars (125,000) without filing any forms. A Declaration of Homestead may be filed at the registry of deeds in your county to extend the dollar value up to five hundred thousand dollars (500,000). The filing requires a specific form and payment of a small fee, which varies from county to county but is usually less than one-hundred (100) dollars. If you are buying a new property, your closing attorney will provide the information to you.

Other Details

Homestead protection strictly applies to a primary residence. There are special provisions for persons over the age of sixty-two (62) and disabled individuals. The Homestead Law will not apply to all creditors or scenarios. Exceptions do apply, such as federal and local tax levies, mortgages on the real estate, and probate court decisions, just to name a few. For comprehensive information on this law, visit the Secretary of State website. The details in this article are offered as an introduction based on the facts available at the time it was written. It is subject to change without notice (as alterations may take place to the Homestead law). Please always consult with the website link above for current facts.