September
11
2018
BARNSTABLE --- The Town of Falmouth stands to lose an affordable homeownership unit after Barnstable Superior Court Judge Kenneth Fishman denied its motion to stop the auction of an affordable home that is going through foreclosure. The property has a deed restriction that is supposed to ensure that the property remain affordable when it is refinanced with a new loan, the judge ruled that the default involved the modification of the original loan. “While there has been a modification of the original mortgage, which enabled the owner to remain in the property for an additional 16 months before a subsequent default, said modification did not supersede or replace the original mortgage or promissory note,” Fishman wrote.
