Massachusetts foreclosures rise before holidays

It can’t be very much fun to contemplate losing one’s home at the start of the holiday season.

Nevertheless, the Boston Globe is reporting that Massachusetts home foreclosures rose a whopping 35% in October.

That figure represents homes actually seized; foreclosure petitions, which track homes that banks intend to foreclose on in the near future, rose a more modest 6 percent.

October was the first month of 2011 where foreclosures increased in Massachusetts compared to the previous year.

There is better news for the optimistically minded, though: the number of mortgage accounts in delinquency is dropping in Massachusetts. Right now, about 7.6% of Massachusetts home owners are behind in payments, compared to the high-water level of almost 10% in February of 2010.

At this time of Thanksgiving, lets give thanks for what we still have, and have hope for the future, and hope the new year is a time of turn-around for the Merrimack Valley and all the people who live here.

Doug Beaton is a bankruptcy attorney serving Lawrence, Massachusetts

 

By Doug Beaton

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