2009 Foreclosures: A Mix Of Bad And Less Bad
The number of foreclosures initiated in Massachusetts increased by 28.1 percent in 2009 to 27,928, compared to 21,804 in 2008.
However, Boston-based real estate tracker The Warren Group also reported that the number of foreclosures completed during the year dropped 25.4 percent to 9,269, compared to 12,430 in 2008.
The numbers show that fewer homeowners lost their homes due to foreclosure, but that more people faced foreclosure "as they struggled with unemployment and other economic hardships," The Warren Group said.
Foreclosure petitions peaked at 2,060 for December, which is a 6.4 percent increase from November's 1,937 and a 26.8 percent increase over the 1,625 petitions filed in December 2008.
Still, the firm said December's total is on par with most other months in 2009. Monthly totals dropped below 2,000 only twice during the year: in January and November.
WBJ Web Partners
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