From today’s CapeNews.net:
Home foreclosures on Cape Cod, and in two Upper Cape towns in particular, have increased at a dramatic rate according to a new report from ForeclosuresMass.com.
The web site, which tracks home foreclosures for prospective home buyers through land courts, reported this week that foreclosures in Barnstable County have shown the sharpest increase over the past year of any Massachusetts county. In comparing bank foreclosures from June 1, 2005, to June 1 of this year, ForeclosuresMass.com found that foreclosures had increased 77.93 percent in that time.
What’s unclear from these figures is what percentage of these properties in foreclosure represent second homes, vacation homes or investment property (i.e. rented to tenants) and what percentage is a primary residence for the borrower.
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