Foreclosures in Boston by Bank of America and Wells Fargo have been brought to court by a number of homeowners in the city. The plaintiffs claimed that the banks did not comply with the provisions of HAMP which they agreed to carry out.
Boston foreclosure investing is viable largely because of price appreciation in the area. House prices increased in Boston year-over-year by 1.7 percent while other metro areas suffered double-digit price declines.
Home foreclosures in Boston followed the statewide trend of decline in pace and increases in home sales and prices in 2009 and in January this year. Ten percent of all home sales in Massachusetts were foreclosures, an increase from the 7-percent share in 2008.
The choices of property will mainly depend up on the reason you are buying it. Therefore, it is important that whenever you go in for Boston foreclosure homes, the first thing that you do is to think about the reason you want to buy it.
Print This Article
Add To Favorites