Foreclosure Debate Continues in Massachusetts

By
Real Estate Agent with Buyers Brokers Only, LLC

More than 8,700 Massachusetts home owners have lost their homes to foreclosure since state officials began debating in January on how to fix the state's foreclosure crisis, the Boston Herald reported September 21, 2007.

Despite another hearing on Beacon Hill regarding the foreclosure issue September 20, 2007, lawmakers apparently are still weeks, if not months, away from passing a bill that would overhaul the subprime lending business in Massachusetts.

Foreclosures are up more than 65 percent so far this year compared to the same period in 2006.

"New foreclosure notices are being issued to Massachusetts homeowners now at a rate of more than 2,000 a month, with about 1,000 homes being sold at foreclosure auctions, the Warren Group’s numbers show."

Read The Boston Herald Article

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