Foreclosures soar in Mass. in July

More than 1,200 Massachusetts homeowners lost their properties to
foreclosure in July as the sluggish economy and high unemployment keep
pushing the number of homes taken back by lenders toward what could be a
record high this year.
“Homeowners are still under duress, and the market isn’t getting any better,’’ said Vincent M. Valvo, editor-in-chief of the industry
publication Banker & Tradesman. “We are likely to see increasing
foreclosure activity for the next few months.’’
In July, 1,243 foreclosures were finalized, almost an 80 percent increase from the same month last year, according to Warren Group, a
Boston company that tracks local real estate and publishes Banker &
Tradesman.

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http://www.boston.com/realestate/news/articles/2010/09/01/foreclosu...