Marlborough City is one of the MetroWest communities affected by Massachusetts foreclosures. In some neighborhoods, furniture and other forms of litter are left on lawns, overgrown vegetation thrive on properties and 15 percent of mortgage companies need to, could not be contacted or persuaded to clean up the mess.
Marlborough has been the most affected by the crisis. Between January 1 and July 15, there were 90 foreclosure filings, outnumbering the figures from a combined previous three-year period.
Massachusetts foreclosures have been increasing, with 260 foreclosed homes in Framingham since January 1. Milford, on the other hand has had 94 foreclosures. The vacant homes are not just an eyesore for residents who pass by. The interiors are also deteriorating, making renovation difficult.
Despite the state of dilapidation, many homes have been used by squatters who transform the homes into illegal apartments which people pay for at exorbitant prices. When this happens, Milford Building Inspector Anthony DeLuca says that the violations had to be corrected, as in the case of Chestnut Street and Pearl Street in Milford where extra units had to be taken out. This had to be done or new owners will be left with the problem.
Aside from these, towns are left chasing banks just to solve the issue. Local officials have had no choice but to clean up the mess left by troubled homeowners. However, Marlborough code enforcement officer Pamela Wilderman says that this was not the responsibility of any municipality nor could they maintain the effort.
It is quite a different story in Franklin as the number of foreclosures is smaller than expected and fewer delinquencies on tax.
Still, it seems that Franklin is an exception to the rule. Foreclosures have been distributed in the whole city with more in the downtown area. Mortgage companies which are supposed to be responsible for taking care of foreclosed homes are not doing their jobs regularly. So far, the city has identified around 25 hazardous properties in the area.
Author Resource:-
Leticia Carvalho has been educated in the finer points of the foreclosures market over 5 years. Read about how foreclosed homes become hazard by Leticia Carvalho.
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