Massachusetts Real Estate News Articles

The Other Victims of Mortgage Crisis – From the Attleboro-North Attleboro Sun Chronicle – January 7th 2008

This article discusses the recent increase of home foreclosures in Massachusetts and surrounding areas. It profiles a single mother renting her Rhode Island home. During the holidays she received notice that her house had been foreclosed upon and she and her children would have to move. A local study shows an increasing trend in multifamily homes facing foreclosure due in part to the sub-prime mortgage crisis. Recent estimates for Middlesex County in Massachusetts indicate multi-family homes account for approximately 25% of the area’s total foreclosures. In many states, (though not in Massachusetts) mortgage foreclosures automatically terminate a tenancy and renters can be evicted with as little as three to 30 days’ notice. Most tenants are unaware of their legal rights and rarely seek assistance from Massachusetts real estate lawyers to advocate for them.

http://www.thesunchronicle.com/articles/2008/01/07/news/news1.txt

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