The mortgage-delinquency rate may be easing across the country, but not in Massachusetts. It’s once again at a record high.

What gives? Isn’t the Massachusetts housing market supposed to be in better shape than the rest of the nation? There might be an explanation:

MBA researcher Mike Fratantoni blamed Bay State borrowers’ blues on everything from rising long-term unemployment to consumers’ heavy holiday-time heating and credit-card bills.

But he also cited state laws that give financially strapped borrowers more time to work out their money problems and avoid foreclosure.

Fratantoni said such efforts help some struggling consumers, but also keep lots of mortgages that banks would have quickly foreclosed upon listed on the books as delinquent instead.

“These policies are very effective in slowing down foreclosures, but the flip side is that loans stay in the ‘delinquent bucket’ for longer and longer,” he said.

The key words are “slowing down foreclosures.” It appears we’re only temporarily damming them up with the new law, potentially creating the conditions for a flash flood if the dam doesn’t hold.

Your thoughts?

Author Profile

John Ford
John Ford
EXPERIENCE

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.



HISTORY

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.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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