Report: 19,487 foreclosures filed in '06
The latest report from ForeclosuresMass.com indicates that over 19,400 Bay State homeowners had foreclosures filed against them in 2006, beating the previous high of 17,000 filed during the housing crash of 1991.
The findings also revealed that fourth quarter filings in 2006 were double what they were in Q4 of 2005, and the highest of any quarter on record, said Jeremy Shapiro, president and co-founder of ForeclosuresMass.com. Shapiro also said that 2007 looks to continue the trend of record foreclosures. "All indications are that this trend will not abate, which means trouble for tens of thousands of additional homeowners in 2007," said Shapiro.
The full report showed that foreclosures on a statewide basis increased 69.56 percent over 2005 levels, and foreclosures have more than doubled since 2004, increasing by 124.27 percent. In communities with 10 to 49 foreclosure filings in 2006, Lancaster underwent one the largest increases, experiencing a 540 percent increase in foreclosure filings.
ForeclosuresMass.com is a provider of Massachusetts foreclosure data.
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