A pair of reports on foreclosures in Massachusetts. "Sheila Farragher-Jemma of ForeclosuresMass.com says in the last year the number of foreclosures jumped 105 percent, and she expects many more in the coming months. 'Thousands of people, they're losing their homes on a daily basis,' she says."

"And it's a trend that's happening not just in Massachusetts, but throughout the country. Foreclosures jumped 28 percent nationwide over last year."

"Analysts blame adjustable rate mortgages. Ned Tobey owned the house that was just sold on 29 Woodbury Avenue. 'I kept falling behind and falling behind,' he says. He financed the $300,000 home with an adjustable rate mortgage, as the rates went up, he found himself unable to afford the payments."

"'I went from a monthly payment of right around $2,100 a month to a little over $3,000,' Tobey says."

"With the Cape's Barnstable County leading the way at 73.9 percent, foreclosure filings in the Pioneer Valley went up more slowly. In Franklin County, filings went up 21.4 percent from 126 to 153; Hampden County filings were up 20.7 percent from 1,129 to 1,363."

"The number of foreclosure filings has been going up faster than he expected, said Jeremy Shapiro, president of ForeclosuresMass. 'It's surprising in terms of how fast the numbers have increased, it's startling,' Shapiro said. In May alone, statewide filings more than doubled, from 788 in May, 2005, to 1,613 this year, Shapiro said."

"Linda Rotti, president of the Realtor Association of Pioneer Valley, suggested that the cooling real estate market could be making it harder for people to sell their houses quickly enough to avoid foreclosure. In the red-hot market of recent years, 'if people got into financial trouble, they could just put their house on the market and get it under deposit in a short period of time,' Rotti said. 'Now with houses taking longer to sell, they don't have that luxury.'"

"Karen Wallace, a Realtor in Brimfield, said she fears there may be more foreclosures as time goes on. 'I have seen more people, when the market was going higher, they pulled a lot of equity out of their homes,' she said. 'They're stretching themselves, then some small thing happens and they can't pay for it any more. It's very sad. Nobody wants to see that happen.'"

"Peter Gagliardi, director of (a) housing assistance agency, has also seen a few people whose homes are at risk because they bought two-family homes with overly ambitious rent expectations."

"Shapiro said he believes the rising wave of foreclosures is 'just the beginning here.' Many homebuyers chose 1-year, 3-year or 5-year adjustable rate mortgages in the recent housing boom, he noted. 'Some of those have begun to adjust, others haven't. I think the next two years are going to see much more heightened levels of foreclosures than we've seen in the past,' Shapiro said."