Lowell Deeds

The Lowell Sun contains a front page story today about the report on 2007 foreclosures in Lowell that we recently prepared. We are now preparing a similar report for the nine towns in our district. The preliminary research shows that the findings will be quite different. In Lowell, the majority of the foreclosures were of “purchase mortgages” which are those (usually there were two) mortgages used to purchase the property. In contrast, foreclosures in the towns are predominantly refinanced mortgages. As soon as this report is ready we will publish it here.