Natural Disaster

Mass Foreclosures Hitting the Bay State 

Foreclosure filings in Massachusetts continued to escalate at a record-setting pace, reaching a new high water-mark in January. According to a report released today by ForeclosuresMass.com, 2,207 foreclosures were initiated statewide during January 2007, more than double the number recorded in January 2006. Lenders have initiated foreclosure proceedings against 20,618 homeowners over the past 12 months, representing a 77 percent increase over the same period a year earlier, the report said.