According to an analysis by real estate data firm Attom, Massachusetts has some of the lowest rates of so-called “zombie mortgages” in the United States.
Attom defines a “zombie mortgage” as a loan on a property that’s in pre-foreclosure but which has been abandoned by its owners.
These zombie homes can fall into disrepair and hurt property values in a neighborhood, Attom said, and are seen as a sign of an unhealthy housing market and economy.
While the number of zombie properties increased quarter-over-quarter in 30 states and Washington, D.C., Massachusetts saw the biggest yearly drop (48.7 percent) of any state.
Additionally, Cape Cod has the lowest rate of zombie foreclosures in Massachusetts, recording none in the second quarter.
“Thankfully, we’re not seeing a lot of homes sitting vacant due to pending foreclosures, which is good for families, neighborhoods, and the market,” Rob Barber, CEO of Attom, said in a statement. “However, foreclosure filings have shown a recent uptick—with April seeing a 14 percent increase compared to the same month last year.”
“So far, buyers seem to be scooping up these repossessed homes relatively quickly, so they aren’t sitting empty.” Barber added. “Nobody wants to see a return to the days of the 2008 housing crisis when vacant, blighted homes were common in many parts of the country.”




