Pat Baker - REALTY EXECUTIVES Boston West



Posted by Pat Baker on 6/23/2017

The Massachusetts Homestead Law is a very useful law that was put into place as a protection of homeowners’ property. The law may protect your home against the claims of creditors. The act applies to your home if: 

  • You live in the home or plan to live in it
  • You use the home or plan to use the home as your primary residence 

Things To Know About The Law


It does protect manufactured and mobile home

Homestead protection does not stop your home from being foreclosed on in the event that you don’t pay your mortgage


Declaration Of Homestead


You must declare that your property is a homestead property in the state of Massachusetts. This declaration will protect the equity value of your home from creditors. The equity of your home is what the “fair market value” of the home is. To calculate this value, find out what the value of your home is, then subtract all home equity loans, liens, and mortgages that you have against the house. The number that’s left is what the equity value of your home is.


When a Declaration Of Homestead is in place, you’re protected from creditors who would otherwise force you to use your equity so that you you can repay the debts that are owed. Without this protection, creditors can foreclose on your home. The only creditors that a Homestead does not protect you from are home loan companies, the IRS and legal child support obligations. 


When the loan for your home is in good standing and a Homestead is in place in Massachusetts, the following applies:


A creditor cannot auction your home if you, other owners of your home, any family members, or any family members who move into your home at a future date live there. This means that even in the event of your death, these people will all be protected from creditors taking value from the property while they are living on the property. 


Key Points


Any family members who have debts and are living in the house are also protected under the Homestead Act in Massachusetts. 


$125,000 is automatically protected. 

A Homestead Declaration needs to be filed for up to $500,000 of protection to be initiated.  


How A Declaration Of Homestead Is Filed


You’ll need to go to the Registry Of Deeds in the county where the property is located in Massachusetts to file a Declaration Of Homestead. The document will need to be notarized and there is a fee associated with filing. You may be asked if you’d like to file the Homestead Protection during the purchase agreement signing for your Massachusetts home. Note that if a lien was put on your property before the Homestead Declaration is filed, you are not protected.


Talk to your real estate attorney and realtor for more details and information on how to file a Homestead Declaration when you purchase your Massachusetts home.




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Posted by Pat Baker on 6/22/2017

This beautiful & sophisticated townhouse is the perfect choice located "in the village" of Natick. This home includes a gourmet kitchen, granite counter tops, hardwood on the first floor, large living room, sliders to balcony, both bedroom suites with full baths plus a half bath. The third floor is flexible and could be a bedroom or very large family room. Lots of storage space. Over-sized garage. Close proximity to downtown shopping, restaurants & Boston Commuter train. Showings begin at Open House Sunday 6/25 12 Noon to 2.

More Info on this Property | New Listing Alerts




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Posted by Pat Baker on 6/20/2017


36 North Main St., Natick, MA 01760

Condo

$539,000
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
This beautiful & sophisticated townhouse is the perfect choice located "in the village" of Natick. This home includes a gourmet kitchen, granite counter tops, hardwood on the first floor, large living room, sliders to balcony, both bedroom suites with full baths plus a half bath. The third floor is flexible and could be a bedroom or very large family room. Lots of storage space. Over-sized garage. Close proximity to downtown shopping, restaurants & Boston Commuter train. Showings begin at Open House Sunday 6/25 12 Noon to 2.
Open House
Sunday
June 25 at 12:00 PM to 2:00 PM
This beautiful & sophisticated townhouse is the perfect choice located "in the village" of Natick. This home includes a gourmet kitchen, granite counter tops, hardwood on the first floor, large living room, sliders to balcony, both bedroom suites with full baths plus a half bath. The third floor is flexible and could be a bedroom or very large family room. Lots of storage space. Over-sized garage. Close proximity to downtown shopping, restaurants & Boston Commuter train.
Cannot make the Open Houses?
Location: 36 North Main St., Natick, MA 01760    Get Directions

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Tags: Natick   Real Estate   Condo   Open House   01760  
Categories: Open House  


Posted by Pat Baker on 6/20/2017


36 North Main St., Natick, MA 01760

Condo

$539,000
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
This beautiful & sophisticated townhouse is the perfect choice located "in the village" of Natick. This home includes a gourmet kitchen, granite counter tops, hardwood on the first floor, large living room, sliders to balcony, both bedroom suites with full baths plus a half bath. The third floor is flexible and could be a bedroom or very large family room. Lots of storage space. Over-sized garage. Close proximity to downtown shopping, restaurants & Boston Commuter train. Showings begin at Open House Sunday 6/25 12 Noon to 2.
Open House
No scheduled Open Houses

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Tags: Natick   Real Estate   Condo   01760  
Categories: New Homes  


Posted by Pat Baker on 6/16/2017

This Single-Family in Milford, MA recently sold for $345,000. This Colonial style home was sold by Pat Baker - REALTY EXECUTIVES Boston West.


24 Lantern Ln, Milford, MA 01757

Single-Family

$349,000
Price
$345,000
Sale Price

8
Rooms
4
Beds
2/1
Full/Half Baths
If you want to live in a desirable neighborhood this home is for you. This 8-room Colonial has a great backyard, a 3 year old roof and set back from the road. Large kitchen opens to a family room with a fireplace. All four bedrooms are light and good size. Close to schools and high school. Think in these terms - whatever you invest in this home to renovate will be worth it because of the location.

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Categories: Sold Homes  




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