The Mortgage Bankers Association is meeting in Boston.
Today, there was a congressional hearing held at Roxbury Community College (?) to discuss the subprime lending crisis, among other things.
Massachusetts Attorney General and housing expert Martha Coakley was there to give her opinion on the matter.
I found the following quote, attributed to her, quite interesting:
There have been 1,000 home foreclosures in Boston in the past six months, clustered in minority and low-income neighborhoods, Coakley said.
I don’t think that is accurate. In fact, I dare say she made it up.
I don’t know what the actual number is. The Suffolk Deeds site says there have been 554 foreclosure deeds since January 1, 2007. I don’t know exactly what that means, it’s not exactly the same thing, but it’s as fair a gauge of the depths of the problem.
In the scheme of things, does it really matter if the number quoted is as much as 48% off from the actual? No, but it would help everyone if we could at least be accurate.
AG: Foreclosures will hit suburbs, too – Associated Press by way of The Boston Globe
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