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Home > Local Business News > Boston > Foreclosures continue to skyrocket in Mass.

Foreclosures continue to skyrocket in Mass.

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The first three months of 2008 saw another record number of foreclosures in Massachusetts, according to the latest statistics.

The state saw 9,114 new properties enter foreclosures, up almost 38 percent over a year ago and the third record-breaking quarter in a row, according to data providerForeclosuresMass.com.

More than three quarters of the state's 351 communities saw foreclosure rates increase in the past year, with 73 municipalities seeing at least a 75 percent increase in filings.

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"Despite all of the attention being given to the foreclosure issue, nothing has changed. In fact, things have gotten worse," said Jeremy Shapiro, president and co-founder of ForeclosuresMass.com, in a statement.

Overall, 32,349 Massachusetts homeowners were at risk for foreclosure in the past 12 months, a statewide increase of 44.78 percent.


© 2008 American City Business Journals, Inc. All rights reserved.



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