For the second straight month, the number of foreclosure filings have spiked in Massachusetts, more than doubling in April compared to the same month in 2013.
What’s going on? Is the market tanking again? Is it a return to the ugly past?
Not really. Apparently lenders are now going all out to clean up their books and aggressively targeting the final backlog of delinquent mortgages, officials say.
And then lenders will presumably have enough money to lend again and repeat the entire boom-bust process that created the current delinquent-mortgage backlog in the first place.
Ah, the circle of life.