While we are certainly not out of the woods for foreclosure rates in Massachusetts, Banker and Tradesman reported that in October, 557 foreclosure deeds were recorded, down more than 39 percent from 914 in October 2009.
Is this good news for home owners in Western Massachusetts?
Well, certainly any time the number of foreclosures and filings drop, it is better than if they rise, but it probably isn’t time to celebrate just yet.
As quoted from the article referenced above,”While the decreases in foreclosure volume are welcoming, we should not be fooled into thinking that foreclosure problems are behind us,” Warren added. “Due to job and economic conditions, many homeowners are delinquent on their mortgages and those problems will eventually find their way into foreclosure statistics.”.
The temporary decrease may be connected to lenders forestalling foreclosure proceedings to double check their paperwork, but I am tying my wagon on hope’s tail and thinking positive that we may have an indication of better times ahead.
In the meantime, if you are in danger of foreclosure in Western Massachusetts, I am here to help. I have years of experience in short sale assistance and would love to help you move on past this financial trouble. Give me a call:
Lesley Lambert, real estate agent in Western MA with Park Square Realty
413.575.3611 or email@example.com
photo courtesy of Colleen Lane on flickr.com