Today, The Warren Group released its latest foreclosure report which shows that the number of foreclosures dropped in April compared to a year ago and compared to March. Lenders also initiated fewer foreclosures.
Some good news for the state or is it just a blip?
Mortgage companies and banks had been holding back on pursuing foreclosures earlier this year as they waited for the federal government to come up with rescue plans for struggling homeowners. That could be one reason that the numbers are lower.
Lenders may also be working harder to negotiate deals with homeowners and agreeing to short sales instead of waiting for the property to go through foreclosure.
But unemployment figures and the growing number of mortgage delinquencies are troubling and could mean that this decline is temporary and not a long-term trend.
Urban area continue to feel the crisis most. Here are the top 10 communities where the most foreclosures have been initiated so far this year: Worcester, Springfield, Brockton, Dorchester, Lynn, Lawrence, Lowell, New Bedford, Haverhill and Framingham.
Source: The Warren Group
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
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