Foreclosure Monitor: New law may be cause of big distress dipMay 31, 2013
(Note: Foreclosure Monitor is an effort by MHP to help public officials and community leaders determine how best to use their resources to help homeowners and neighborhoods hard-hit by foreclosure).
BOSTON, May 31, 2013 ---A 2012 law that requires banks to notify borrowers of their rights to pursue a loan modification before foreclosing may be a factor in the precipitous drop in foreclosures in the first quarter of 2013.
BOSTON, Feb. 20, 2013 --- While many key indicators show that the housing market is recovering, Foreclosure Monitor's quarterly analysis of foreclosures at the community and neighborhood level indicates what areas are still suffering from? distress.?To provide a different look at where these areas are, this edition is substituting its usual statewide analysis of property distress by community, zip code and census tract and will instead break down areas of distress by gateway community census tracts, City of Boston census tracts and suburban/rural/higher-income communities.?
BOSTON, Jan. 15, 2013 --- Comparing the extent and pace of the 1990s real estate recession to this recession, Foreclosure Monitor estimates that we're a few years away from home prices and property distress returning to pre-recession levels, especially given that there are approximately 52,000 mortgages that are either 90 days delinquent or in some stage of the foreclosure process.
BOSTON, July 19, 2012 --- Foreclosure Monitor recently took a look at distressed property resolutions in Massachusetts over a two-year period and found that less than one-quarter of all property resolutions in the state were purchased by buyers of multiple properties. This is in contrast to a recent national report indicating that large investors are working to purchase thousands of properties in foreclosure.
BOSTON, Jan. 11, 2012 --- As lenders renew foreclosure activities, more than half of all properties in foreclosure are becoming bank-owned, indicating that despite low interest rates, third-party buyers in Massachusetts have little appetite for foreclosed properties, especially outside of Boston.
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