According to an article released by the Boston Globe on Tuesday, the Massachusetts housing market started more foreclosures this past April than it did in 2009. This occurred despite the fact that the housing market is in fact improving.
There is reportedly a whopping 21% jump in foreclosure petitions – which are the first step in seizing a home – than in April of last year. The good news? This past April’s numbers are not as high as early 2008. At that time, an average 3,000 petitions per month were being filed all over the state.
Additionally, we have sped up our foreclosure process – from petition to auction – to 138 days, down from 234 days in 2008. Timothy Warren, the CEO of The Warren Group, credits the facilitation of foreclosure to the familiarity of government foreclosure programs.
Read the full article here.
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