foreclosure statistics
Massachusetts Foreclosure Crisis Could be Bigger Than Initially Thought
For anyone thinking the worst of the foreclosure crisis is behind us, wake up and smell the coffee. Or better yet, take a look at some of the numbers Amherst Securities’ Laurie Goodman is crunching. Goodman, who took part in a panel discussion on the real estate market I moderated last week at the InterContinental [...]
Increasing Foreclosures in Mass Starting to Strain Economy
Many economists say the U.S. won’t fully recover from the recession until the housing market recovers. But the number of homeowners facing foreclosure continues to rise. And as NPR’s Anthony Brooks reports, the foreclosure crisis is now deepening in states like Massachusetts, places that were initially spared the worst of the real estate collapse. ANTHONY [...]
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 [...]