Home safe? Job losses fueling Franklin County foreclosures

[ Originally published on: Friday, October 23, 2009 ]

Foreclosure numbers are down from what they were a year ago. But that doesn't mean we're nearing the end of the foreclosure crisis, say workers who have been seeing a new category of people struggling to save their homes.

Franklin County saw foreclosures decline by more than 26 percent in the first nine months of this year, compared to the same three quarters in 2008, according to data provided by The Warren Group of Boston.

The rate of activity picked up after the first quarter's 11 foreclosure filings, with 20 foreclosures in the second quarter and then 19 in the three months ending in September.

The Greenfield Labor Market Area's unemployment rate for September rose from 9.2 to 9.3 percent, according to figures announced this week. In the Athol Labor Market area, the rate for September hit 12.1 percent. Athol's foreclosures are significantly higher than any other Franklin County town.

Although people seeking help with foreclosures through the Western Massachusetts Foreclosure Prevention Center had been almost entirely those with subprime mortgages, ''Now we're seeing people who've lost their jobs … people with standard mortgages,'' said Jennifer Kinsman, director of the program, which tries to help about 100 people a month around western Massachusetts. ''They're in a difficult situation,'' she added, especially because the tools that the program has to work with depend on the homeowners having an income.

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