Mass Bank Owned .com - Foreclosures Source For Massachusetts Bank Owned Real Estate, Foreclosure Listings, Mortgage Auctions and other homebuying tools!
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Mass Bank Owned .com - Massachusetts Section. Foreclosure and bank owned real estate in Massachusetts. The Massachusetts real estate market is in a "correction mode". More and more folks are falling behind on their mortgage loans, and lenders are foreclosing. This has resulted in an increasing number of foreclosure auctions and bank owned properties entering the Massachusetts real estate market.

Massachusetts foreclosure petitions jumed by over 70% in 2006, as the state's housing market had its worst year in more than a decade, with both the number of home sales and the median price for single family homes dropping to levels not seen in over 10 years. The result has been an ever increasing number of bank owned properties on the market. The number of bank owned mortgage foreclosures is expected to increase as the US Government TARP properties make their way into the Massachusetts real estate market.

Bank foreclosure rates are increasing in nearly every city and town in Massachusetts, from the Cape to the Berkshires, Boston to Greenfield. Plymouth County, Norfolk County, and Bristol counties have all seen the number of foreclosures increase over the prior year. These foreclosures and bank owned properties on the Massachusetts market can be an opportunity for homebuyers and investors alike.

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Thousands of Massachusetts homeowners are facing foreclosure, often those who obtained high interest, subprime loans over the last few years are likely to lose their homes. Many homeowners in Massachusetts who took out subprime mortgages over the past few years will be out on the street. Based on current data, that means more than 20,000 of the state’s homeowners with these loans could lose their homes to foreclosure.
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