Housing Foreclosures Down Sharply Through August

Completed foreclosures fell in August, marking 15 straight months of year-over-year declines, according to data released Tuesday. 

The Warren Group reported 261 completed foreclosures in August, a 54 percent drop from August 2012. There have been 2,135 completed foreclosures in Massachusetts over the first eight months of 2013, down 64 percent from the same period in 2012. 

Warren Group CEO said the trend in foreclosures has been accompanied by a rise in home sales and prices, an improved economy, loan modifications and other processes that homeowners have taken to avoid foreclosures.  

Foreclosure petitions, the first step in the foreclosure process, are down almost 70 percent through August, compared to the same period in 2012.

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