1,500 Mass. foreclosure actions initiated in May
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Foreclosure actions against Massachusetts homeowners continued at a high pace in May, and likely will remain so for several more months as rising interest rates and a sluggish real estate market leave delinquent borrowers with few options, according to real estate analysts.
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U.S. homeowners began the foreclosure process at a record pace in the first quarter of 2007, largely due to a sharp rise in previously hot real estate markets such as California and Florida.
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U.S. home foreclosures fell in June  after jumping to a 30-month peak in May, but default rates will  escalate as a horde of mortgages resets at higher loan rates,  real estate data firm RealtyTrac said on Thursday.
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THE REGION The Massachusetts Senate is expected today to pass legislation aimed at preventing foreclosures and mortgage fraud. The bill encompasses several proposals made earlier by legislators and Governor Deval L. Patrick including: Making mortgage fraud a felony; establishing procedures to avoid deceptive mortgage loan advertising; adding requirements for lenders and borrowers, including in-person counseling; licensing mortgage originators; creating a ...
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Investor's Business Daily - California, Florida and Ohio led the 176,137 total U.S. filings, RealtyTrac said. The total was nearly double May &#39;06 and 19% higher than April. More homeowners are falling behind on payments. Higher foreclosure activity also likely will mean lower home prices. Median prices fell 1.8% in Q1, according to the National Association of Realtors.
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The number of new foreclosure proceedings filed against Massachusetts homeowners dropped for the second straight month in April, according to a report issued yesterday.
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Statewide sales of single-family homes and condominiums broke another record last year, topping a strong year in 2003 as low mortgage rates and an improving economy continued to fuel residential sales. Prices also rose for the 11th year in a row. The Massachusetts Association of Realtors reported yesterday the number of detached single-family homes sold increased 8.7 percent in 2004, ...
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The window doesn't open any wider than this. May is turning out to be one of the hottest months in years for Massachusetts companies that want to go public. Five companies have already made it onto public markets and raised $459 million selling shares this month.
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Home foreclosures have set a record in the face of a Fed request to avoid taking homes.
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Mortgage lenders submitted a record 19,487 foreclosure filings in Massachusetts last year, leaving more homeowners in danger of losing their homes than at any time since the real estate recession of the 1990s.
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An alliance of mortgage counselors, lenders and servicing companies on Friday said the industry helped 370,000 homeowners avert foreclosure in the second half of 2007.
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The number of mortgages approved rose to 120,000 in July, the highest since the start of 2006.
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The number of homes put up for sale surged in May as sellers tried to beat the launch of Home Information Packs.
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The number of Americans who may lose their homes to foreclosure reached a record in the second quarter as late payments by subprime borrowers surged to one of every seven loans.
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The homeowners who signed these mortgages must be held accountable somehow ("State to refinance troubled mortgages," July 11). Yes, the mortgage companies may have taken advantage, but if the homeowners had hired an attorney or did their homework, there wouldn't be a problem. This is like rewarding stupidity.
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State officials and executives from leading mortgage lenders are expected to meet today to discuss possible remedies to Massachusetts' wave of foreclosures.
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Tommy Rice, Arlington County's real estate assessor, spotted something troubling on his computer when he returned to work after a three-week vacation early this year: a half-dozen residential property transactions with an unusual code, the numeral 1, which indicates a foreclosure.