foreclosure statistics
Massachusetts Foreclosures Rise in 2009, Overall
The number of foreclosures initiated in Massachusetts jumped 28.1 percent in 2009 to 27,928 from 21,804 in 2008 but was 5.5 percent below the level in 2007, according to the latest report from The Warren Group, publisher of Banker & Tradesman. The number of completed foreclosures, meanwhile, declined 25.4 percent to 9,269 last year from [...]
Massachusetts Real Estate Foreclosure Update
The number of foreclosures initiated in Massachusetts during the month of November fell below 2,000 for the first time since January, according to a new report by The Warren Group, publisher of Banker & Tradesman. Still, petitions to foreclose, which mark the start of the foreclosure process, remain at a relatively high level and were [...]
1 Million Homes Foreclosed in the US During 3rd Quarter 2009
Troubled home loans continued to mount in the nation’s banks in the third quarter as even once-solid borrowers increasingly fell behind on their mortgage payments. For the first quarter ever, the number of homes in foreclosure with mortgages serviced by U.S. national banks and savings and loans topped the 1-million mark, according to figures released [...]
Nantucket, MA, Concord, MA, Weston, MA, and Winchester, MA Foreclosures are Increasing 3X, or 4X
The state’s foreclosure crisis, which has largely battered lower cost cities like Worcester, Springfield, and Lynn, is slowly creeping into the state’s tonier towns, reflecting a tough financial year for even some of Massachusetts’ wealthiest residents. Affluent towns including Nantucket, Concord, Weston, and Winchester, saw triple or quadruple digit percent increases in foreclosure deeds during [...]
More Massachusetts Foreclosures for 2010
Looks like the foreclosure mess won’t be going away anytime soon. Just as all the hoopla over the extension of the home buyer tax credit starts to fade, along comes the The Mortgage Bankers Association to bring the market back to reality. One in seven loans is now in foreclosure, up from one in ten [...]
Newton Massachusetts Family Fights Foreclosure (video)
A Newton, Massachusetts mother is hoping the kindness of friends and strangers can help her keep her family home. When Elinor Beatrice met her husband Jeff 20 years ago, they each had children from previous marriages, but they would spend the coming years expanding their family even more. They raised 11 kids in the same [...]
Bus tour highlights effects of foreclosures in Brockton Massachusetts
People here say they feel helpless and trapped. There have been more than 1500 foreclosures here in the past five years – some of it questionable lending practices – and there was anger tonight against banks. Most people are looking to find a way out. The bus says “All Occasions” and this one is a [...]
Banks, collection firms pursue claims after homes foreclosed
Hank Lane figured that when he lost his Groton home to foreclosure in 2008, at least his long-running financial nightmare had come to an end. He was wrong. The $550,000 that Lane’s home fetched at auction covered most of his $650,000 first mortgage, but none of his $200,000 second mortgage – and the second lender [...]
Massachusetts Foreclosure Default Notices on the Rise
Rising unemployment and more adjustable-rate loans resetting to higher monthly payments are boosting foreclosure filings in the region. The number of homeowners in the Boston metropolitan area who received default notices – the first step in the foreclosure process – swelled to 7,962 in the third quarter, a 19.4 percent increase over the same period [...]
Late Leap in Massachusetts Foreclosure Rates
The Bay State may not be a national leader when it comes to the foreclosure epidemic. That honor still rests with such boomtown states gone bust as Nevada, Arizona and California. That’s the good news. But let’s not get smug here. The latest numbers from RealtyTrac are out, and they don’t look good for Massachusetts. [...]