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Foreclosure Drops, Quincy's Innovation Center; More!

STATEWIDE— Massachusetts foreclosure continues to decline. 261 foreclosures were recorded in August, down 54% from last year. August also marked the 15th consecutive month of year-over-year foreclosure deed decreases. Warren Group chief executive Timothy Warren Jr. stated, "The decline in foreclosure activity coincides with significant increases in sales volume and home prices. Other factors include an improved economy, loan modifications, and other alternatives to foreclosure." [Globe]
QUINCY— Quincy has its own Center for Innovation, open as of today. The Center will feature a comprehensive infrastructure of supporters and resources within the Greater Boston area, as well as offer a number of opportunities for local startups. [BostInno]
NATIONWIDE— The federal shutdown won't stop all government lending, but it will create problems for closings. The Federal Housing Administration (FHA) will still be open, with a greatly reduced staff, but won't be able to verify certain government documents necessary to complete the loan files. [Banker and Tradesman]