Home Foreclosures for Sale Invade Suburban Massachusetts

Industry experts have been seeing home foreclosures for sale spread from Massachusetts’ urban areas of Dorchester and Lowell to the suburban of Hinghams, Westons and Sudbury. They said that foreclosures have invaded places where in the past were spared from them.

The reason for the increase in foreclosure auctions is the recession. Nowadays, many homeowners are losing or have lost their jobs, forcing them to miss payments on their mortgages.

Industry experts said that historically, when people lost their jobs, it follows that they would soon lose their homes if they have not found another employment. They said unemployment is the main culprit behind the current flood of home foreclosures for sale. So far, the number of repossession proceedings in the state has increased by almost 150 percent.

By Cassiano Travareli