November 18, 2010
Fewer Foreclosures Started, Finished In October
By Matthew L. Brown
The number of foreclosure petitions filed by lenders in Massachusetts dropped 51 percent in October from the same month a year ago, according to Boston-based real estate tracker The Warren Group.
Foreclosure deeds, which mark the completion of the foreclosure process, were down more than 39 percent from a year earlier.
In all, 1,127 petitions and 557 deeds were filed. October was the first month of year-over-year decreases in both deed and petition filings this year.
The Warren Group said the decreases could be influenced by the temporary suspension of foreclosures previously undertaken by Bank of America.
"Lenders may have waited to file petitions while rechecking their procedures and paperwork," The Warren Group said.
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