ForeclosureS.com, a California-based real estate investment advisory firm and publisher of foreclosure property information, reported today that foreclosure activity in Massachusetts was reaching an epidemic level and clogging the court system.
"Our Massachusetts research team spent four hours on June 8 with clerks and judges in the District, Superior, and Land Courts and learned that the courts have a 30-45 delay in even issuing docket numbers for foreclosures across the state," said ForeclosureS.com president Alexis McGee.
She went on to say that her information indicated that foreclosure filings for Massachusetts in the month of May were at the highest level for a single month since a similar financial crisis in the mid 1980's.
"It's clear that Massachusetts housing markets are going through a serious shakeout," said Ms. McGee. "Unlike the northern New England states of Vermont, New Hampshire and Maine, Massachusetts, and in particular, the Boston metro area, experienced a tremendous run-up in prices over the last few years. Now the Boston housing market has gone completely flat, and interest rates are rising. Homeowners are being put in a squeeze and will have greater difficulty selling their way out of trouble through conventional channels."
ForeclosureS.com has been analyzing markets, providing foreclosure lists and learning program and assisting investors since 1992. The company recently developed a new investor oriented foreclosure property listing system and extended their services nationwide in late 2005, covering more than 944 counties across the U.S.
NEW: ForeclosureS.com has current foreclosure statistics by state, county and foreclosure notice type available for media use. For information on how to access this information please email: firstname.lastname@example.org.
"Our objective at ForeclosureS.com," said Ms. McGee, "has always been to provide much more than just foreclosure lists. We offer both free- and fee-based comprehensive learning programs for both new and experienced real estate investors."
"Our programs include a free monthly e-zine 'The Foreclosure Forecast,' with 10 years worth of articles available online; Nationwide Webinar Conference Calls; a complete Foreclosure Investing home study program; and intensive Hands on Workshops that put our students out in the field with me and my Coaches to do the actual work of a foreclosure property investor."
She added that her firm has also built a cadre of successful investor clients in order to provide Personal Coaching one on one guidance to recent program graduates.
Ms. McGee has spent her whole professional life in real estate -- beginning with her studies from Arizona State University in 1983 in Real Estate Finance, then as a successful commercial real estate agent, on to personal investing in 1986, and finally as a national investment trainer since 1992.
"With foreclosure activity on the increase across the country" said Ms. McGee, "there are a lot of sharks out there that only want to virtually steal the property in foreclosure from the distressed homeowner."
"ForeclosureS.com on the other hand, teaches our investor clients to create win-win scenarios that benefit both the troubled homeowner and the investor. We show the homeowner how to save some equity for a new start. That's far better than seeing them lose everything in an auction on the courthouse steps."