foreclosure statistics
Massachusetts Near Top of New England Foreclosures
OK, we will never catch up to Nevada, the foreclosure capital of the world. But Massachusetts has one of the highest levels of foreclosure activity of any state in the Northeast, with numbers close to those of considerably larger states like New York and Pennsylvania. I took another look at the latest foreclosure numbers RealtyTrac [...]
1 Million Homes to Be Repossessed in 2010!
The national foreclosure numbers continue to bounce around a bit, rising here, falling there, but at a very high level. However, the days of letting troubled homeowners sit in limbo for months or years are long gone. Banks are moving to seize homes and then unload them on the real estate market. Of course, the [...]
House Foreclosures sell at 30% discount Nationally
Foreclosures accounted for a third of all sales — and sold at a nearly 30% discount — during the first three months of 2010. According to a new report from RealtyTrac, the marketer of foreclosed properties, 31% of all sales were foreclosures. And homebuyers purchasing those properties paid a whopping 27% less, on average, compared [...]
Massachusetts Foreclosure Petitions Decline Year Over Year and Month Over Month
Lenders initiated fewer foreclosures in Massachusetts in May than they did a year ago and in the prior month, according to a new report from The Warren Group, publisher of Banker & Tradesman. Foreclosures petitions, which mark the first step in the foreclosure process in the Bay State, fell 9.4 percent to 2,110 from 2,329 in [...]
Massachusetts Foreclosure Data and Statistics
Foreclosures are spreading like wildfire in the suburbs. And while sad as this wave of distress is, it may provide some buying opportunities in our perpetually overpriced Greater Boston market. I spent time last night studying a foreclosure spreadsheet covering most of the towns and cities across our metro area put together by RealtyTrac. The [...]
Additional Information on Massachusetts Foreclosures and Bank of America
PBS has a great interview about Bank of America’s foreclosure prevention plans for Massachusetts. Bank of America’s Foreclosure Fight Plan Wednesday, March 24, 2010 SUSIE GHARIB: Welcome relief today for some people who can’t make their mortgage payments if they’re with Bank of America. Tom, under pressure from state attorneys general, the bank agreed to [...]
Massachusetts Foreclosures Seen to Be Slowing or Stable
The number of new petitions to foreclose has remained relatively stable for several months, providing a hopeful sign that the worst of the state’s foreclosure problem could be in the past. But the problem is by no means over: The number of foreclosure deeds filed – the final step in the foreclosure process – has [...]
Is the Foreclosure Crisis in Massachusetts Ending or At Least Slowing?
The foreclosure mess is far from over. But there is a flurry of signs, some national, and one local, that we just might be finally reaching a turning point. On the macro level, the number of homeowners falling behind on their mortgages actually fell in the fourth quarter, the Mortgage Bankers Association reported Friday. Mortgages [...]
Foreclosures Expected to Continue in Massachusetts
The worst of the foreclosure crisis that swept through the region in the past few years may be over, but the problem is not going away just yet. The number of foreclosures fell last year. Yet at the same time, lenders began the process of foreclosing on hundreds more homes in the area. High unemployment [...]
Home Loan Delinquency Rates Rise Based on Foreclosures
Home-loan delinquency rates in the US reached 10% in December, up from the record-high 9.97% in November [1], according to Lender Processing Services (LPS [2]: 38.85 -0.05%), which provides data on mortgage performance. Accounting for foreclosures in the pipeline, the total non-current rate stands at 13.3%, according to the data in the LPS database. When [...]