In my quest to write as many grouchy entries I can in one day, let me just say this – don’t believe anything you read quoting data put out by ForeclosuresMass.com.
I think they play around with the numbers, basically just so they can generate traffic to their website and business for themselves (not that there’s anything wrong with that).
If you want true data, wait for press releases from The Warren Group, etc.
Here’s the latest from the company (which has been in business for around three years):
ForeclosuresMass.com reported today that 2,227 Massachusetts homes last month fell into foreclosure …
… â€œWhile lawmakers at the federal and state level are looking into ways to protect homeowners, the fact is that foreclosure filings have – and will – continue at astronomical levels well into 2007,â€? ForeclosuresMass.com President Jeremy Shapiro said.
Mr. Shapiro always seems to have his thesaurus nearby, in case the press should call. Last month he said “a perfect storm” had developed – interest rates increasing while real estate prices were falling. An inaccurate analysis of the situation, to be sure (I think we’d have to be in a recession or depression for it to be classified as a “perfect storm”).
Trust but verify, is my mantra.
I’m not arguing the fact that foreclosure filings are up, just that the numbers are inaccurate, and being used to mislead people.
Source: Mass. foreclosures reach record high – By Jerry Kronenberg, The Boston Herald
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