Foreclosure starts rise again in Bay State
Mortgage lenders sought to foreclose on more Massachusetts properties in July, with foreclosure petitions in Worcester and Middlesex counties rising faster than the state as a whole, according to The Warren Group, of Boston.
Foreclosure petitions to the courts, which launch the foreclosure process, rose 49 percent last month over July 2014, and marked the 17th straight month of increases in petition filings, according to a statement from The Warren Group, publisher of Banker & Tradesman.
Petitions rose 63 percent in Middlesex County, but even more in Worcester County, at 71 percent.
"Foreclosures continue to climb after a few years of very low activity as lenders catch up with regulatory changes," said Cassidy Murphy, editorial director at The Warren Group. "While these numbers are higher relative to last year, the steady increase does not yet represent a cause for alarm."
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