November's Latest News
Foreclosures rise in Mass.
(Source: Boston Business Journal)
Foreclosures in Massachusetts climbed 66 percent in the third quarter compared to the same period last year, according to ForeclosuresMass.com.
The Framingham company said lenders initiated 4,891 foreclosure actions in the quarter. The 1,731 foreclosures undertaken in September amounted to almost 60 a day.
Among communities with more than 50 foreclosures over the past year, the biggest increases during that time have been in Dartmouth (211 percent), Palmer (126 percent), Bridgewater (126 percent), Mashpee (123 percent) and North Attleboro (123 percent).
The firm's data is based on a review of court documents, and includes any properties that have been the subject of a foreclosure notice -- even those that ultimately remain in the owners' possession.
"These are record-breaking numbers," said Jeremy Shapiro, the president of ForeclosuresMass.
Shapiro said approximately 13,000 foreclosures have been executed in 2006 and he expected by the end of the year that number would exceed the 1991 record of 17,000.
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