Massachusetts Foreclosure Data
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 [...]
Massachusetts Foreclosures fall by 30% year over year; Foreclosures in Massachusetts Rise 4% Over Quarters
The number of Bay State residents whose homes were seized by lenders increased from July through September compared to the previous quarter, but foreclosures have declined by nearly 30 percent year-over-year, according to a new report by the Warren Group. “Lenders are facing pressure from federal leaders to offer loan modifications to troubled homeowners, and [...]
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. [...]
Massachusetts Foreclosure Sales Could Be Invalidated
A Massachusetts Land Court justice’s ruling today puts into question the ownership of hundreds — and possibly thousands — of foreclosed properties in the state. Justice Keith C. Long affirmed his own March decision that invalidated foreclosure proceedings involving two Springfield homes because the lenders did not hold clear titles to the properties at the [...]
Massachusetts Foreclosure and Subprime Mortgage Crisis
BOSTON — Where were Massachusetts banking regulators as the subprime mortgage crisis exploded all around them? An investigation by the New England Center for Investigative Reporting found Massachusetts lags far behind other New England states in the number of serious disciplinary actions against mortgage brokers. Jaime Alvarez has the face of a trusting man. The [...]
Massachusetts Foreclosure Data and Michigan Foreclosure Data | Massachusetts Foreclosure Charts and Michigan Foreclosure Charts
Real estate research firm Lender Processing Services has released an interesting look at the impact of foreclosure sales on home prices on a state-by-state basis. “REO sales account for as much as 60 percent of housing activity in some states,” Nima Nattagh, Ph.D., of LPS Applied Analytics, said in a press release. “Our study contains [...]
Harvard MBA Students Support Fight Against Massachusetts Foreclosure
The Homeownership Preservation Foundation (HPF) today announced that it was teaming up with students at Harvard Business School (HBS) to support the Foundation’s mission of preventing foreclosure and preserving homeownership. Beginning in the fall semester, students of the class of 2010 will work alongside the Homeownership Preservation Foundation in several independent field studies aimed at [...]
Great Map of Boston and Massachusetts Foreclosure Trends
There’s a lot of confusion out there about the foreclosure crisis. I remember editors at one paper I worked for seeking in vain a suburban counterpart of battered, boarded up and foreclosed Hendry Street in Dorchester. Anyway, I am sure there was a lot of salivating over potential headlines, Wellesley’s Foreclosure Alley and things of [...]
Boston Massachusetts Launches Foreclosure Prevention Program
The City of Boston will spend roughly $18 million to help homeowners avoid foreclosure and bring new buyers into the market in a program announced Wednesday by Mayor Thomas M. Menino. The program, called the Homeownership Stabilization Campaign, is a 12-month initiative to aid neighborhoods hardest hit by the foreclosure crisis. The two-part program will [...]