Federal Reserve Bank of Boston Releases “State Foreclosure Prevention Efforts in New England: Mediation and Assistance”

Federal Reserve Bank of Boston Releases “State Foreclosure Prevention Efforts in New England: Mediation and Assistance”

BOSTON, MA – September 29, 2011 – (RealEstateRama) — Foreclosure initiations spiked in all the New England states during the recent economic downtown, ranging from a peak of less than 3.0% of outstanding mortgages in Vermont in 2010 to a peak of 5.5% of outstanding mortgages in Rhode Island in 2009. Across the entire New England region in 2010, more than 7% of all mortgage holders– nearly 133,000 homeowners – were seriously delinquent in making payments. In response, state and local policymakers have created their own foreclosure prevention programs to supplement those available nationwide.

Previous articleWebster Man Sentenced for Bilking More Than $7 Million from Mortgage Lenders
Next articleWhat Does The Bank Consider a Legitimate Short Sale Hardship?