Massachusetts Foreclosures Decline
Despite RealtyTrac’s recent reports that foreclosures in the U.S. have jumped 30 percent, year-over-year and almost 6 percent since January, foreclosures in Massachusetts, have declined. Foreclosure activity in Massachusetts fell more than 24 percent from February 2009 from the February 2008, and 12 percent from this January.
Scott Van Voorhis, writing for the Boston Globe notes:
Of course, that drop-off appears related to a law that went into effect last year that forces lenders who want to foreclosure to give struggling homeowners a three-month shot at getting their finances back on track.
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