By Trey Garrison | HousingWire
A new paper published in the journal Housing Policy Debate points to the role of mortgage servicers as a critical factor in whether or not a neighborhood or community experiences the negative effects commonly associated with foreclosure sales, such as vacant houses, rising criminal activity and loss of nearby property values.
The study, conducted by Abt Associates’ Senior Analyst Hannah Thomas, focused on two Boston neighborhoods—Jamaica Plain and Dorchester.
As part of the study, Thomas examined foreclosure sales data, observed foreclosure sales and conducted interviews with real estate agents, real estate lawyers and foreclosure auctioneers between 2009 and 2010.
