Fewer Foreclosures In August, But Pace Remains Quick
Nearly 35 percent fewer properties were foreclosed in August than were in the same month a year ago, according to the Warren Group, a Boston-based real estate tracker.
August's total of 658 foreclosure deeds filed was also 4.4 percent less than the 688 filed in July. Year-to-date, 6,076 foreclosure deeds had been filed in the state, a 31 percent decrease compared to the same period a year ago.
The Warren Group said that while foreclosure deed filings have "moderated," the pace of foreclosure initiation has not slowed. Since January, lenders have started an average of 110 foreclosure per day, The Warren Group said.
Petitions to foreclose, the first step in the foreclosure process, were up 154 percent in August compared to the same month a year ago, but were 17 below the number filed in July.
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