Tuesday, November 16, 2010

Rural home foreclosures outpace others in Mass.

A Massachusetts study has found that home foreclosure is more common in the state’s suburban and rural communities than in the Bay State's cities. The Massachusetts Housing Partnership blames the shift on "a persistently high unemployment rate and the stagnant economy have become major drivers of bank seizures," as opposed to the 2007 phenomena of "high-interest mortgage loans, high-risk borrowers, and plummeting property values," Jenifer McKim of The Boston Globe reports.

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