May 23, 2007
Preponderance of repossessions
By Matthew L. Brown
Foreclosure filings in Massachusetts are at record levels in every area of the Commonwealth, according to ForeclosuresMass.com of Framingham.
According to the firm, lenders initiated 2,002 foreclosures in Massachusetts in April. That's 63 percent more than the number of foreclosures recorded in April 2006.
Over the past 12 months, lenders have initiated 23,116 foreclosures statewide, an 81 percent increase over the previous 12-month period, the firm said.
For the year, Worcester had the third most foreclosures in the state with 1,027. Only Springfield and Boston had more.
Jeremy Shapiro, president of ForeclosuresMass.com, said, "virtually every community in Massachusetts is being impacted. Wealthy and poor, urban and rural, and all communities in between are being ravaged."
Shapiro said April's figures indicate that foreclosures "will continue to have a negative impact on the Massachusetts real estate market throughout 2007."
According to the firm, lenders initiated 2,002 foreclosures in Massachusetts in April. That's 63 percent more than the number of foreclosures recorded in April 2006.
Over the past 12 months, lenders have initiated 23,116 foreclosures statewide, an 81 percent increase over the previous 12-month period, the firm said.
For the year, Worcester had the third most foreclosures in the state with 1,027. Only Springfield and Boston had more.
Jeremy Shapiro, president of ForeclosuresMass.com, said, "virtually every community in Massachusetts is being impacted. Wealthy and poor, urban and rural, and all communities in between are being ravaged."
Shapiro said April's figures indicate that foreclosures "will continue to have a negative impact on the Massachusetts real estate market throughout 2007."
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