Home Mortgage Weblog

Experts say the trend is fallout from the housing boom of the past decade, in which people took out high-risk house mortgages, such as interest-only and no-down-payment loans, in order to get into expensive homes. A firm ForeclosuresMass which tracks foreclosure filings in land court says Essex County had a 49 percent increases over the same period in 2004. Suffolk, Plymouth, Bristol, and Barnstable counties all had increases of more than 42 percent. Home prices in Massachusetts have appreciated 67 percent in the past five years. October's median selling price for a single-family home was 349-thousand dollars. Thus as a whole homeprices are at its high.