With Massachusetts foreclosures on the rise, local government, in some metrowest communities in the state, has been finding it difficult to deal with vacant homes which soon become safety hazards and eyesores.
Investing in Milford bank owned homes is a profitable endeavor because Milford is a fast-growing town, with a lot of parks, a new bike trail and new residential construction. There were 282 foreclosure deeds in April in Worcester County, where Milford is located.
The number of cheap houses on sale in Massachusetts is projected to rise in 2011 as values of homes depreciate further. According to reports, the decline in home values accelerated in December 2010.
Massachusetts has passed a legislation designed to protect homeowners and renters from the impact of high numbers of home foreclosures by state. Senator Susan C. Tucker was the sponsor.
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