April Foreclosure Petitions Highest Since Sept.
Petitions to foreclosure in Massachusetts during the month of April hit their highest levels this year, the Boston-based Warren Group announced this morning.
There were 1,192 foreclosure petitions filed in the Bay State last month, the highest number since September, when there were 2,358, the Warren Group said.
But foreclosure petitions have dropped sharply compared to last year. Year-over-year, petitions in April were nearly 51 percent lower compared to the 2,431 petitions in April 2010.
Through April of this year, 3,727 petitions to foreclose have been filed. That number is down 58.6 percent from the same period last year during which 9,008 petitions were filed.
Timothy Warren Jr., CEO of the Warren Group, said in a statement that the foreclosure crisis is not yet over. He said lenders are taking a cautious approach to foreclosures right now and predicted that increases in petitions this summer are likely.
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