February 27, 2007
Number of foreclosures expected to grow in '07
By Christina Davis
In other real estate news, ForeclosuresMass.com of Framingham reported that the number of foreclosures in the state in January totaled 2,207, more than double the number recorded in January 2006.
ForeclosuresMass.com's monthly market report also found that lenders initiated foreclosure proceedings against 20,618 homeowners over the past 12 months, representing a 77 percent increase over the same period a year earlier.
"The flood of foreclosures in Massachusetts is not only continuing, it has reached a new high. 2006 was a record-breaking year, and our latest data indicates that 2007 may be even worse," said Jeremy Shapiro, president and co-founder of ForeclosuresMass.com, in a written statement.
ForeclosuresMass.com's monthly market report also found that lenders initiated foreclosure proceedings against 20,618 homeowners over the past 12 months, representing a 77 percent increase over the same period a year earlier.
"The flood of foreclosures in Massachusetts is not only continuing, it has reached a new high. 2006 was a record-breaking year, and our latest data indicates that 2007 may be even worse," said Jeremy Shapiro, president and co-founder of ForeclosuresMass.com, in a written statement.
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