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Foreclosure Filings Hit New High in MA.

Mortgage Servicing News

| May 01, 2007 | COPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Framingham, Mass. -- ForeclosuresMass.com released its February Massachusetts Market Analysis Report with data revealing that foreclosure filings in Massachusetts continue to escalate at a record-setting pace and reached a new high in January.

The report shows that 2,207 foreclosures were initiated statewide during January 2007, more than double the number recorded in January 2006. Lenders initiated foreclosure proceedings against 20,618 homeowners over the past 12 months, representing a 77% 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. "The fact ...

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Source: HighBeam Research, Foreclosure Filings Hit New High in MA.

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